MENLO PARK and SHANGHAI — GGV Capital, a leading venture capital firm focused on the U.S. and China, has announced the close of its new funds totaling $1.2 billion. The new funds include $900 million in the firm’s main fund, GGV Capital VI and VI Plus, $250 million in GGV Discovery I focused on early stage opportunities in China, and $50 million in the GGV Capital VI Entrepreneurs Fund consisting largely of company founders as LPs. With these new Funds, GGV Capital now manages $3.8 billion across eight funds.
“Technology markets are rapidly converging, and embracing a global mindset is imperative for entrepreneurs today – in technology terms the world is getting smaller,” said Jixun Foo, managing partner, GGV Capital. “As backers of globally focused market leaders such as Airbnb, Alibaba, Domo, Houzz, Qunar, Slack, UCWeb, and Youku Tudou, we are excited by the support of new and longstanding partners such as National University of Singapore, Northwestern University, LACERA and the Oregon State Treasury to back a new generation of technology entrepreneurs.”
Fifteen private companies in the GGV Capital portfolio are now valued at $1 billion or more, and half were Series B or earlier at the time of initial investment by GGV. The firm also counts 14 current public companies in its portfolio with valuations greater than $1 billion, including 21Vianet, Qunar, Pandora, Square, Youku Tudou, YY.com and Zendesk. Throughout the firm’s 15-year history, 28 portfolio companies have completed IPOs, including Square in 2015 and Zendesk and Nimble Storage in 2014. The firm’s portfolio companies completed more than $15 billion in M&A transactions in 2015 alone.
Founded in 2000, GGV Capital leverages a unique model of a single, global team investing across the U.S. and China. The managing partners of the new funds are Jixun Foo, Jenny Lee, Hany Nada, Jeff Richards, Glenn Solomon, and Hans Tung, all of whom were managing partners of GGV Capital V.