Congratulations to Kleiner Perkins Caufield & Byers on the successful NASDAQ IPO of its portfolio company AutoNavi, a Chinese mapping company that supplies maps for GPS navigation systems. KP owned 4.3% of the company prior to its recent IPO. At time of IPO, Kleiner owned 6,527,520 ordinary shares of AutoNavi, now worth around $25mn. That equates to a 2.5X rate of return over the four years KP held the investment.
The AutoNavi investment was made by KPâ€™s main office in California, not Kleiner Perkins China, which was set up in 2007 to lead the US firmâ€™s investing activities in China, and is still waiting for its first exit. According to KP Chinaâ€™s website , the AutoNavi investment is managed by KP China.