US venture capital firm GGV Capital will divide its business into two independent firms with distinct partnerships and identities, with one concentrating on Asia and the other on the US, amid intensifying political scrutiny on US firms’ investments in Chinese tech companies. The split, similar to a move pulled by Sequoia Capital earlier, is expected to be completed by 31 March 2024.

The US firm will be led by Glenn Solomon, Hans Tung, Jeff Richards, and Oren Yunger. Meanwhile, Jixun Foo and Jenny Lee will lead the Asian partnership, which will invest in Southeast Asia, South Asia, and China.