Kpcb China

Institutional venture firmpart of Kleiner PerkinsSEC venture capital fund adviser· ShanghaiKPCB.COM/CHINA

Institutional venture firm, based in Shanghai, reporting $359M of fund assets on its funds' Form ADV filings.

Composed from this organization's classification, location and filed figures.

Reported fund assets
$359M
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
10
Investment team
16
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (49)Team (30)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

26 additional team members, 37 additional co-investors and affiliates, 8 events, 45 verified contacts (44 professional url, 1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

  1. 7 deals
    with Andreessen Horowitz

    Invests most often alongside Andreessen Horowitz (7 shared deals) and Sequoia Capital (7 shared deals).

    pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.

    Measuredshared rounds and portfolio companies on recordCo-investors →

People to know

View all people
  • Ilya Fushman
    Managing Member
    Why: Named with investment responsibility
    Profile
  • Brook H. Byers
    Managing Member
    Why: Named with investment responsibility
    No route on file yet
  • L. John Doerr
    Managing Member
    Why: Named with investment responsibility
    No route on file yet

Relationship network

52 connected entities13 observed rounds7 repeat counterpartiesrounds 2009 to 2020

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

What stands out
Reading the network
  • Sponsor
  • Company
  • Fund or vehicle
  • Person

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Kpcb China: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to Kpcb China

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

49 companies on record, 10 new in 12 months
Investments on record
49 companies, 13 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Ionic SecurityForm D equity offeringunknown · boardTed Schlein (strongly supported)$441,031
form d sold
unknownJul 1, 2020Inference Form D
CheggForm D equity offeringunknown · boardTed Schlein (strongly supported)$2.4M
form d sold
unknownMay 21, 2012Inference Form D
Reputation.com, IncForm D equity offeringunknown · boardTed Schlein (strongly supported)$41.0M
form d sold
unknownAug 9, 2011Inference Form D
Stated thesis versus observed behaviour
13 observed deals
Stated (the firm’s website)
Sectors
ai, enterprise software, fintech, healthcare, biotech, consumer, energy, hardware, space, devtools, logistics, industrial
Stages
seed, series a, series b, early
Geography
global, globally, michigan, seattle, silicon valley, united states, worldwide
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Industries, each company once
Hardware and deep tech, Software or Tech-enabled and IT services (1)
lead rate no observed dealsfollow-on rate 100%new companies, 12 months 10

Team

30 current, 11 departed
Decision makers
who to call first, and why; then everyone else by function
  • Ilya Fushman · Managing Member
    Why this person: Named with investment responsibility; Confirmed current on the firm's own site 2026-10-01
    LinkedIn or profile link on file (firm website, their bio on the firm's website), confirmed 2026-10-01, confidence 90%
  • Brook H. Byers · Managing Member
    Why this person: Named with investment responsibility
  • L. John Doerr · Managing Member
    Why this person: Named with investment responsibility

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 1 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team
30 current, 11 departed
6 departed (kept with end dates)
Contacts
1 firm phone, 44 professional url

1 firm phone, 44 professional url on record, each with its source. Values open with the complete profile.

Funds and LPs

2 vehicles, 0 LPs disclosed
Funds and vehicles
2 reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Kpcb China Fund, L.P.FundunknownUnknown$334M
Mar 31, 2026
73unknownunknown
Kpcb China Founders Fund, L.P.FundunknownUnknown$24.5M
Mar 31, 2026
11unknownunknown
Limited partners
0 LPs, 0 disclosed commitments
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Known LPs and allocators
1 relationship across the firm's funds, from public pensions and the allocator graph
AllocatorTypeFundAmountDateSource
John D & Catherine T Macarthur FoundationFOUNDATIONKPCB CHINA FUND, L.P. at Kpcb China$1.9M
fair value on the foundation's return
reported as of Dec 31, 2024Fact IRS Form 990 / 990-PF e-file returns

Relationships across DFX

100 co-investors · on 2 other DFX graphs
Co-investors
100 counted from shared deals, for the whole firm
Across DFX and the capital chainon 2 other DFX graphs · 1 capital path Show
Across DFX
  • The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Across the graphs

Kpcb China is the same institution as 2 records in Allocators and RIA and Wealth.

Allocators1RIA and Wealth1

DFX found 2 relationships across 2 datasets

Which record it is in each graph, what it is called there, and how the two were matched.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Checking your plan…

Capital chain

Kpcb China sits on 1 traced path of capital across the graphs.

Allocator commitments to a manager

DFX traced 1 path of capital through this record

Every record on each path, what it committed or lent, and as of when.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

Checking your plan…

Evidence and history

13 dated events, 58 observations from 3 sources
Timeline
13 dated events
  1. Mar 31, 2023
    WEN Hsuan Hsieh (Managing Member) no longer on Schedule A of Kpcb China
    Person leftPeopleInferenceWEN Hsuan HsiehForm ADV
  2. Mar 31, 2023
    WEI Zhou (Shareholder) no longer on Schedule A of Kpcb China
    Person leftPeopleInferenceWEI ZhouForm ADV
  3. Mar 31, 2023
    LAN Sun (Shareholder) no longer on Schedule A of Kpcb China
    Person leftPeopleInferenceLAN SunForm ADV
  4. Mar 1, 2020
    Ilya Fushman joined Schedule A of Kpcb China as Managing Member
    Person joinedPeopleFactIlya FushmanForm ADV
  5. Mar 1, 2020
    WEN Hsuan Hsieh joined Schedule A of Kpcb China as Managing Member
    Person joinedPeopleFactWEN Hsuan HsiehForm ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 31, 2026 · 2 private fundsShow

Website description: Kleiner Perkins is an American venture capital firm headquartered on Sand Hill Road in Menlo Park in Silicon Valley.

Headquarters
Shanghai, Chinaadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
KPCB.COM/CHINA
SEC adviser type
Exempt reporting adviseradviserinfo.sec.gov
SEC exemption claimed
Venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
Latest Form ADV
Mar 31, 2026
Private funds reported
2 (2 venture capital funds)adviserinfo.sec.gov
Private fund gross assets, adviser total
$359Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Owners on Schedule A
Howardstong Group Limited (Shareholder), owns 50% to 75%; Kleiner Perkins Caufield & Byers (Shareholder), owns under 5%
Classification history
Every classification this record has carried3 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $359M across 2 vehicles
  2. Sep 15, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $447M across 2 vehicles
  3. Sep 12, 2026
    Institutional venture firm (confirmed, 70%)
    Venture manager with no reported fund assets yet (scale unknown)
Evidence
66 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
SEC exemption claimedVenture capital fund adviserMar 29, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 31, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 29, 2024FactForm ADV
First Form ADV filing2012-03-29Mar 31, 2026FactForm ADV
First Form ADV filing2012-03-29Mar 29, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-03-31Mar 31, 2026FactForm ADV
Latest Form ADV filing2024-03-29Mar 29, 2024FactForm ADV
Venture share of reported funds1Mar 31, 2026FactForm ADV
Venture share of reported funds1Mar 29, 2024FactForm ADV
Business phoneMar 29, 2024FactForm ADV
DescriptionSep 30, 2026Factno URL
DescriptionSep 16, 2026Factno URL
DescriptionSep 13, 2026Factno URL
HeadquartersMar 29, 2024FactForm ADV
Office addressMar 29, 2024FactForm ADV
Self-described typeVenture capitalSep 30, 2026Factno URL
Self-described typeVenture capitalSep 16, 2026Factno URL
Self-described typeVenture capitalSep 13, 2026Factno URL
Legal formCorporationMar 29, 2024FactForm ADV
Private funds reported2Mar 31, 2026FactForm ADV
Private funds reported2Mar 29, 2024FactForm ADV
Private fund gross assets (reported)$359MMar 31, 2026FactForm ADV
Private fund gross assets (reported)$447MMar 29, 2024FactForm ADV
Schedule a diffsadiff-1Sep 25, 2026FactForm ADV
Stated geographyGlobal, globally, michigan, seattle, silicon valley, united states, worldwide
“geography words on the home page”
Sep 30, 2026Factno URL
Stated geographyGlobal, globally, michigan, seattle, silicon valley, united states, worldwide
“geography words on the home page”
Sep 16, 2026Factno URL
Stated geographyGlobal, globally, michigan, seattle, silicon valley, united states, worldwide
“geography words on the home page”
Sep 13, 2026Factno URL
Stated sectorsAI, enterprise software, fintech, healthcare, biotech, consumer, energy, hardware, space, devtools, logistics, industrial
“sector words on the home page”
Sep 30, 2026Factno URL
Stated sectorsAI, enterprise software, fintech, healthcare, biotech, consumer, energy, hardware, space, devtools, logistics, industrial
“sector words on the home page”
Sep 16, 2026Factno URL
Stated sectorsAI, enterprise software, fintech, healthcare, biotech, consumer, energy, hardware, space, devtools, logistics, industrial
“sector words on the home page”
Sep 13, 2026Factno URL
Stated stagesSeed, series a, series b, early
“stage words on the home page”
Sep 30, 2026Factno URL
Stated stagesSeed, series a, series b, early
“stage words on the home page”
Sep 16, 2026Factno URL
Stated stagesSeed, series a, series b, early
“stage words on the home page”
Sep 13, 2026Factno URL
Team pageSep 30, 2026Factno URL
Team pageSep 16, 2026Factno URL
Team pageSep 13, 2026Factno URL
Venture funds reported2Mar 31, 2026FactForm ADV
Venture funds reported2Mar 29, 2024FactForm ADV
WebsiteMar 29, 2024FactForm ADV
Website resolved domainkleinerperkins.comSep 30, 2026Factno URL
Website resolved domainkleinerperkins.comSep 16, 2026Factno URL
Website resolved domainkleinerperkins.comSep 14, 2026Factno URL
Site titleSep 30, 2026Factno URL
Site titleSep 16, 2026Factno URL
Site titleSep 13, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmed · 2 filing advisers share this firmShow
Importance
37
elevated
Active deployment
0
low
Emerging
0
low
Freshness
100
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $359M across 2 vehicles

One of 2 advisers that share kpcb.com; the firm is Kleiner Perkins. Kleiner Perkins. Each keeps its own CRD, funds and filings; the grouping is the website each swore to on Form ADV and is recomputed every pass.

The inputs behind each score
importance
gav: $0 · funds: 0.17 · people: 0.64 · investments: 0.41 · co investors: 0
active deployment
investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: not scored
emerging manager
fund count: 2 · reported gav: $359M · first adv filing: 2012-03-29 · years since first filing: 14.5

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

1 identity change, 1 dated event on the change ledger, latest event first
  • Grouped with firm
    2026-09-14
  • Adviser's first ADV filing
    2012-03-29source on record

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

Not yet on record: latest vintage.