James Breyer is best known for investing in Facebook in 2005, when Mark Zuckerberg was still a little-known Harvard dropout and the company was selling its shares at just 5 cents each.
His next big bet will be in China’s artificial intelligence sector, where he will spend more money and expects almost-as-impressive returns. Breyer Capital, his eponymous venture capital fund, is teaming up with IDG China to invest in the sector.
“My partners at IDG China and Breyer Capital will invest $1 billion this year in China and Silicon Valley on AI, internet of things IoT, machine learning companies and next generation consumer applications,”...
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