GGV Capital announced that it has raised US$2.5 billion for its new funds, marking its largest family of funds in its 20-year history.
The committed capital includes US$1.46 billion for GGV Capital VIII (Fund VIII), US$366 million for GGV Capital VIII Plus (Fund VIII Plus), US$610 million for GGV Discovery III (Discovery III), and US$80 million for GGV Capital VIII Entrepreneurs Fund (Entrepreneur VIII).
GGV Capital Managing Partners: Jeff Richards, Eric Xu, Glenn Solomon, Jenny Lee, Jixun Foo, Hans Tung. [Photo credit: Studiokel by Kelly Fan]
Meanwhile, Discovery III will focus on investing in global entrepreneurs at their earliest stage of development, while Entrepreneur VIII will be allocated to growing and building the GGV entrepreneur family network globally.
The four funds extend GGV’s multistage and sector-focused investment strategy in technology companies, according to a statement from the firm. Jixun Foo, Jenny Lee, Hans Tung, Glenn Solomon, Jeff Richards, and Eric Xu will serve as managing partners of the new funds. Collectively, they have over 100 years of experience in the field.
GGV Capital invests in seed-to-growth stage companies across three sectors, including social and internet, enterprise tech, and smart tech. To date, it manages US$9.2 billion in capital under management across 17 funds.
Over the past two decades, the firm has backed over 400 companies around the world, including Airbnb, Alibaba, Grab, and Slack. Eleven GGV portfolio companies have completed public listings in the last 15 months.
Edited by Miguel Angel Cordon and Eileen C. Ang
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