Redpoint Ventures announced the launch of its new China centric fund worth $180 million.

The fund will be invested in early stage technology companies in consumer and enterprise segment. It will operate out of the offices in Beijing and Shanghai.

The fund will provide the startups with its expertise and global network. 

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Named Redpoint China I, the fund will be used in about 25 companies, which will enjoy an investment of between $1 million and $4 million each.

Redpoint partner David Yuan said the startup ecosystem in China is now more attractive than ever. He also pointed that the market now has a growing number of serial entrepreneurs, making it more robust.

The fund is also optimistic about the market, owing to the strong support from the government. The company partner said that increased global technology developments is also conducive to the development of the market.

Redpoint Venture has already invested in over 35 companies in China since it started operating in the country in 2005. It has made a number of successful exits from companies, such as iDreamSky, Domob and CGEN Digital Media. Some of these companies were acquired, while others made their IPO debuts on stock markets, including NASDAQ and NYSE.

Recently, Redpoint Venture has invested in various high profile companies, including Yixia, China's largest platform for mobile videos.

The venture has also invested in APUS and in Renrenche, the largest used car marketplace in the country.

Redpoint Venture has made more than 90 percent of its investments in early stage companies. 

TagsRedpoint Ventures, Redpoint China I fund, iDreamSky