# Keytone Ventures: portfolio, investments and team > Keytone Ventures is a vc firm based in China. 12 investments on record, latest Jul 2015. Portfolio, stages, co-investors and team. Source: https://millionrounds.com/fund/keytone-ventures (Millionrounds; every figure on the page links to its filing or article) China · [Investor](https://millionrounds.com/investors) # Keytone Ventures Last cheque observed Jul 2015. Silence since then is not evidence of inactivity: our sources miss unannounced rounds. Quiet New fund $199M, Aug 2010 VC firm Seed Series A Series B Technology Internet Cheques on record **0%** of best year **0** **cheques in 12 months**, 12 on record Since the last cheque **4112** days **00** hrs **00** min **00** sec Median round **$20M** Rounds led **0 of 12** Exits **1 from the portfolio** Mostly in **United States, 50%** Pitch Keytone Ventures ## Keytone Ventures highlights - 01 12 rounds on record - 02 Mostly Series B and Series C: 67% of its rounds - 03 1 exits from the portfolio ## What they do > Keytone Ventures is a China-focused venture capital firm investing in transformative ideas for the increasingly interconnected global economy. From their own website - **Type:** VC firm - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth - **Sectors:** Technology Internet - **Based in:** Beijing, China - **Cold pitches:** Accepted ## The record Every round we can evidence, newest first **12 appearances** - **2015** 2 rounds - **Jul** **[InnoSpark](https://millionrounds.com/company/innospark)** Series B · KR **$6.5M** With 2 others - **Apr** **[Chemayi](https://millionrounds.com/company/chemayi)** Series A · CN **$20M** With 1 other - **2014** 1 round - **Jun** **[MCube, Inc](https://millionrounds.com/company/mcube-inc)** Series C · US **$37M** With 6 others - **2013** 1 round - **Aug** **[LP Amina](https://millionrounds.com/company/lp-amina)** Series C · US · chinamoneypodcast.com **$20M** With 3 others - **2012** 2 rounds - **Jul** **[Beijing Redbaby Internet Technology](https://millionrounds.com/company/beijing-redbaby-internet-technology)** Series E · CN **$20M** With 2 others - **Apr** **[NanoH2O](https://millionrounds.com/company/nanoh2o)** Growth · US · finsmes.com **$61M** With 6 others - **2011** 3 rounds - **Apr** **[PapayaMobile](https://millionrounds.com/company/papayamobile)** Series B · US · techcrunch.com **$18M** With 1 other - **Jan** **[DerbySoft](https://millionrounds.com/company/derbysoft)** Series C · US **$10M** With 1 other - **Jan** **[Beijing Redbaby Internet Technology](https://millionrounds.com/company/beijing-redbaby-internet-technology)** Series D · CN **$20M** With 3 others - **2009** 2 rounds - **Aug** **[Analogix Semiconductor](https://millionrounds.com/company/analogix-semiconductor)** Series B · US · freshnews.com **$10M** With 5 others - **Jul** **[Borqs](https://millionrounds.com/company/borqs)** Series B · CN · gigaom.com **$17M** With 3 others - **2007** 1 round - **Jun** **[Lattice Power](https://millionrounds.com/company/lattice-power)** Series B · CN **$25M** With 5 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **2 named** JZ **Joe Zhou** Director i Form ADV ZJ **Zhixiong Joe Zhou** Executive Officer i Filing they signed We also hold **6** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$388M** gross assets of its funds Oct 2026 **Exempt** reporting adviser venture or small private funds - **Legal name:** Keytone Ventures (hong Kong) Advisers Limited - **SEC number:** CRD 163386 ## Exits from the portfolio Companies it backed that were later bought or listed **1 in all** **[NanoH2O](https://millionrounds.com/company/nanoh2o)** Bought by [LG Chem](https://millionrounds.com/fund/lg-chem) **$200M** Mar 2014 An exit counts when it came after the firm's first round in the company. From historical deal records. New fund on file **$199M** raised in Aug 2010 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$20M** the round, not its cheque Led 0 of 12 rounds **0%** - **Sole investor:** Never alone - **Last cheque:** Jul 2015 - **Exits:** 1 from the portfolio Rounds by stage said on their site - Series B said *5* - Series C *3* - Growth said *1* - Series A said *1* - Series D *1* - Series E *1* - Seed said *-* Cheques by year Led Joined 2007 2015 Often in the room with - [Kleiner Perkins Caufield & Byers](https://millionrounds.com/fund/kleiner-perkins-caufield-and-byers) 3 - [Northern Light Venture Capital](https://millionrounds.com/fund/nlvc) 3 - [DCM Ventures](https://millionrounds.com/fund/dcm-ventures) 2 - [GSR Ventures](https://millionrounds.com/fund/gsr-ventures) 2 - [Mayfield Fund](https://millionrounds.com/fund/mayfield) 2 - [New Enterprise Associates](https://millionrounds.com/fund/new-enterprise-associates) 2 **Pitching Keytone Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Keytone Ventures. A count of rooms they were both in, not a relationship either has claimed. [**Kleiner Perkins Caufield & Byers** VC firm **3** rounds together](https://millionrounds.com/fund/kleiner-perkins-caufield-and-byers)[**Northern Light Venture Capital** VC firm **3** rounds together](https://millionrounds.com/fund/nlvc)[**DCM Ventures** Private equity **2** rounds together](https://millionrounds.com/fund/dcm-ventures)[**GSR Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/gsr-ventures)[**Mayfield Fund** VC firm **2** rounds together](https://millionrounds.com/fund/mayfield)[**New Enterprise Associates** VC firm **2** rounds together](https://millionrounds.com/fund/new-enterprise-associates) ## Quick answers about Keytone Ventures ### What does Keytone Ventures invest in? Keytone Ventures invests most often at Series B and Series C (67% of the rounds on record), in sectors such as Technology and Internet. ### How active is Keytone Ventures? 12 investments on record, 0 of them in the last 12 months. The most recent was in Jul 2015. ### How big are Keytone Ventures's cheques? The median round it joins is $20M. ### Does Keytone Ventures lead rounds? Rarely, if at all: none of its 12 investments on record names it as the lead. ### Where does Keytone Ventures invest? Most of the companies it backs are in the United States (50%), China (42%) and South Korea (8%). ### Is Keytone Ventures investing now? No investments in the last 12 months; the latest was in Jul 2015. ### Who does Keytone Ventures invest alongside? Most often Kleiner Perkins Caufield & Byers (3 rounds together), Northern Light Venture Capital (3 rounds together) and DCM Ventures (2 rounds together). ### What kind of investor is Keytone Ventures? Keytone Ventures is a VC firm based in Beijing, China. ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=keytone-ventures) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=keytone-ventures)