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Stella Jin, a partner at Keytone Ventures, says her firm only did three deals last year.
FORBES: When Will China Get Another Baidu? Could Be A While!
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Look for Keytone Ventures, Redpoint Ventures, Walden International and DCM to have more fund-raising news soon as well.
FORBES: China deals, funds still strong despite new reality: ask Ushi, NLVC
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Only one year into the foray, Joe Zhou, the Beijing-based co-anchor of the team overseen by venture honcho John Doerr from the Valley, left to form his own fund Keytone Ventures.
FORBES: Splitup at Kleiner China proves getting the right mix isn't easy
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The troubles date back to 2008, when the maverick investor Joe Zhou, who was handpicked by Doerr along with Tina Ju to set up KPCB China in April 2007, left to launch his own firm, Keytone Ventures.
FORBES: Sequoia Scores in China While Kleiner Fumbles