Redpoint Ventures launches $180 million fund dedicated to early-stage Chinese companies

Redpoint Ventures, a venture capital (VC) firm headquartered in Menlo Park with offices in L.A., San Francisco, Beijing, and Shanghai, has announced its first fund dedicated to China.

The aptly-named Redpoint China I fund weighs in at $180 million, and will be directed at “early stage consumer and enterprise technology companies,” according to a company statement.

Founded in 1999, Redpoint Ventures has invested in a number of notable startups through the years, including MySpace, Twilio, Just East, DraftKings, Zendesk, Stripe, Cyanogen, and Netflix. The VC firm’s China foray has been ongoing since at least 2005, when David Yuan joined to spearhead Redpoint’s push into China — in that time Redpoint has invested in 35 Chinese companies, including CGEN Digital Media, Qihoo360, iDreamSky, Domob, APUS, Renrenche, Yixia.

“We believe that strong, local knowledge coupled with global perspective and insights make us better partners and investors,” said Redpoint founding partner, Chris Moore. “The strategic bond between our U.S. and China teams is vital to helping future entrepreneurs compete in the global marketplace.”

Though Redpoint’s dedicated China fund is notable, it pales in comparison to IDG and Breyer Capital’s $1 billion China pot announced a few months back. It’s also worth noting that the East-West interest works in both directions — back in January China Equity Group launched a $715 million fund aimed specifically at European startups.

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