The venture capital firm that invested in Compaq, Amazon.com, Electronic Arts and AOL has opened its offices in China, finally.

Kleiner Perkins Caufield & Byers announced it has officially opened operations in China with offices in Beijing and Shanghai. Joe Zhou, formerly with Softbank Asia Infrastructure Fund, and TDF Capital partners Tina Ju, David Su and Forrest Zhong are leading the KPCB China team, supported by additional former TDF professionals.

John Doerr, KPCB partner, said, "This is a terrific day for innovators and new businesses in China and for KPCB worldwide. The breaking news is that Tina, her TDF partners and Joe are joining forces. For more than two years, KPCB respectfully networked with leaders in China to find Joe, Tina, Forrest and David. They are among the very best venture capitalists in the country, and they will assist its very best entrepreneurs. They are much more than proven investors; they are a team of business builders. Their strong technology, operating and investing experience is unique, which will be a significant benefit to new businesses. Joe, Tina, Forrest and David share a deep and long-term commitment to help entrepreneurs contribute to growth, jobs and innovation in China and worldwide."

The KPCB China team plans to invest its new US$360 million China Fund to assist Chinese entrepreneurs and to promote innovation in high-growth industries, including technology, Internet, media and wireless communications. The Fund will also invest in new consumer areas, healthcare and greentech.

"We are very excited to join KPCB," said Ju, a co-founder of KPCB China. "We've been working together for the past year and are impressed by how closely our values and goals match. We're convinced Chinese entrepreneurs will be best served by our global team's assistance in recruiting, business building, strategy, networking and financing. The experience and reputation of our worldwide team, its global resources and ability to see global trends early will be very valuable to China ventures.