Asia Private Equity News says the well-known Silicon Valley firm, Kleiner Perkins Caufield & Byers, is putting the finishing touches on an announcement about “KP China.” It simply cites “sources.” Sorry, we don’t have a link.

This is significant because Kleiner has been a leader among local venture capital firms, and such a fund would signal to many that a major play in China is important to have for any significant local venture capital firm. It would be one more step toward making Shanghai a second major node of venture capital after Silicon Valley.

We’re scratching our heads on this one. Kleiner told us only about a month ago that they’ll likely do something in China in the future, but gave us the impression there were no detailed plans yet. Partner Ray Lane, for example, apparently had no idea what form it would take. And then there was this. Coincidentally, we’d already planned a talk with Kleiner’s John Denniston today. Stay tuned…