On March 18th and 19th, Liangzhi Tang, the mayor of Wuhan met with Brook Byers, one of the four founders of Kleiner Perkins Caufield& Byers (KPCB). The two spoke about finalizing KPCB’s investment in Biolake, a state level, high-tech industrialization area in Wuhan.
KPCB is a venture capital firm located in Silicon Valley and is known to be one of the largest and top venture capital firms in the world. KPCB mainly focuses in investments that are in the early stages and particularly companies specializing in digital technology, green technology and life sciences. Companies that have been backed by KPCB include AOL, Amazon.com, Google, Genentech, Zynga, and Intuit.
Mayor Tang talked about the economic development of Wuhan and in particular, focused on the development of Biolake. He expressed his desire for Biolake to become China’s “Silicon Valley.” Mayor Tang praised KPCB’s experience in the life sciences area and said he hoped that a partnership between Biolake and KPCB would benefit both organizations. In response, Mr. Byers praised the economic strength of Wuhan and said KPCB would consider a partnership with Biolake and spoke of the possibility of building a biotechnology company in Wuhan.
JHL Biotech has both a wholly-owned foreign enterprise in Wuhan and a joint venture with Biolake industrial park, with Biolake holding majority ownership.