Venture Firm and Ally Plan China Fund

Accel Partners, one of Silicon Valley's biggest venture capital firms, said Tuesday that it would team up with the venture capital arm of the International Data Group, the American publisher and media company, to create a $250 million fund to invest in Chinese technology companies. The move is one of the biggest yet as Silicon Valley venture capital firms enter China's fast-growing, but increasingly competitive, technology market.

Source: NY Times

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