GGV Capital Asia becomes Granite Asia, eyes new asset classes in APAC expansion

GGV Capital managing partner Jenny Lee (left) and Tech in Asia COO Maria Li / Photo credit: Tech in Asia

Sequoia India and SEA split from its US parent firm and rebranded to Peak XV last year. Now, following the same path, GGV Capital announced that it is rebranding its Asian operations to Granite Asia.

The move comes months after GGV Capital – which is headquartered in Menlo Park – announced that it would divide its business into two different firms, with one focusing on Asia and the other on the US.

Granite Asia will aim to broaden its investment scope to include new markets and asset classes within the Asia Pacific, including Japan and Australia.

The decision was speculated to have been influenced by the growing challenges and political pressure on US companies to reduce their investments in Chinese tech.

After the rebrand, the firm will continue to manage GGV’s portfolio in Southeast Asia, China, and India.

The name Granite Asia comes from GGV Capital’s original name, Granite Global Ventures Capital. Headquartered in Singapore, the firm will be led by GGV veterans Jenny Lee and Jixun Foo, who manage a combined US$5 billion portfolio.

GGV founding partner Thomas Ng, former GIC president for special investments Teh Kok Peng, and former chairman of Singapore’s National Science and Technology Board Teo Ming Kian will act as advisors to Granite Asia. Teh and Teo both championed GGV’s establishment in Singapore back in 2000, the firm said.

See Also: Recession Run: Sequoia’s $850m plan during a downturn