Venture Capital firm Kleiner Perkins Caufield & Byers is showing its love for the Dragon country as it’s raising a second $250 million fund to invest in Chinese companies.  The firm has done its filing for the same, and is calling it KPCB China Fund II. Prior to this, Kleiner raised $360 million fund in its first round of investment conducted in year 2007.

Kleiner’s Shanghai based affiliate, KPCB China is working on raising a local-currency fund with a target of at least $89.4 million.  It is in close collaboration with China-based and Menlo Park, Calif-based teams and KPCB China, and has already co-invested in two Chinese firms, including water filtration company Mobius Water, and solar thin film company PVNext Corp. Giving his views on the same, Kleiner’s partner Ray Lane said,

“China has an environmental problem that technology can address and that can be a foundation for setting up very successful businesses in China.”

“I expect that we’ll be making more and more joint investing. We invested out of the U.S. and out of China because we think water filtration is important globally,” Lane added.

Just a few days back, Appcelerator raised an impressive $15 million from investors Mayfield Fund, Translink Capital, and Red Hat, as well as existing backers eBay, Inc., Sierra Ventures, and Storm Ventures.  The company will be using these funds to expand outwards to Europe and Asia, plus fresh funds  to help further improve Appcelerator Titanium, the company’s flagship product.  Translink is particularly helpful in this global expansion, as it’s firmly established in Asian markets.

Asian markets as a whole are becoming choicest investment destination for investors around the world. In fact, industry analysts and fund managers also believe the same. Tim Dickson, Asian equities fund manager for Invesco Perpetual is highly optimistic about Asian markets.

“The strength of government, corporate and household balance sheets with low levels of debt make the region less vulnerable to external shocks and should be supportive of economic activity in the medium to long term.”

Robert Forbes, IFA for London-based Plutus Wealth, is also concerned with the global financial scenario and believes that it’s the right  time to look at markets other than UK and Europe.

“My worry is bandwagon following. There is a possibility of missing the boat already, but if they feel the rental yields stack up then that could be a good place for growth. Most commentators are not positive about growth in the UK and Europe so we are expecting fund managers to look further afield.”