By Zhang Qi (China Daily)
Updated: 2007-11-14 07:08

Leading global venture capital company Kleiner Perkins Caufield & Byers (KPCB) will commit between 20 percent and 25 percent of its 3 billion yuan ($403.4 million) venture earmarked for the Chinese market to green technology.

The decision came after the company announced a partnership with London-based investment management firm Generation Investment Management to fund green businesses, technology and policy solutions.

"We have invested 400 million yuan in five environmentally friendly projects in four areas, which are wind power, environmental treatment, refuse treatment and degradable plastic," managing partner of KPCB China Tina Ju said.

KPCB entered the Chinese market in April this year and established KPCB China with 3 billion yuan in venture capital.

KPCB has 35 years' experience in life sciences and information technology. For the last seven years, the firm has been active in green technology initiatives. KPCB has spent more than $200 million on green technology products and services worldwide since 1999.

"Generation invests in large corporations, like Johnson Control and BP," KPCB partner Ted Schlein said. "It is an investor by stake. They make investment decisions based on sustainability strategy, which they share with us, and we share information about technology and entrepreneurs.

Chairman and co-founder of Generation, former US vice-president Al Gore, will join KPCB as a partner.

"You can imagine when Gore gives his speeches around the world, many entrepreneurs come to him with ideas," Schlein said. "We share his insights, and this helps us make investment decisions, as well as accelerate the growth of the companies we invested in through his investment network, knowledge of world leaders and corporation leaders."

According to the announcement, KPCB's presence in Asia and the United States combined with Generation's presence in the United States, Europe and Australia would support solutions on a global scale.

It would also provide a multiple-stage investment platform. The early stage would involve private investment with KCPB and public investment with Generation, while the later stage would involve private investment between both firms.

(China Daily 11/14/2007 page14)