Silicon Valley venture firm launches China fund

"A prominent Silicon Valley venture capital firm said Thursday it has paired with the computer publishing and technology investing firm International Data Group to launch a $250 million investment fund based in China. Accel Partners, based in Palo Alto, Calif., and IDG will each make an initial investment in the IDG-Accel China Growth Fund, which will make early-stage investments in information technology, consumer technology and health-care firms based in mainland China, according to a statement from the two firms."

[Marketwatch]