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Kleiner Perkins to raise $250M for China fund

The VC firm is launching its second China-based growth fund, aiming in part to go after cleantech plays.

Ray Lane has been pushing investments in China Kleiner Perkins

The venture capital firm Kleiner Perkins, long an investor in clean tech and global firms, is launching a $250 million fund to invest in Chinese companies.

According to a filing with the U.S. Securities and Exchange Commission, the fund is called the KPCB China Fund II. Unsurprisingly, it's the firm's second such fund. In 2007, KPCB launched its first China fund, raising $360 million, according to the Wall Street Journal.

KPCB Managing Partner Ray Lane told the Journal in May that the China and U.S. teams will work closely together and that the opportunities to invest in firms tackling environmental issues, such as water filtration, are vast.