finance news

GGV Capital raises USD 2.52 billion, to invest in global entrepreneurs

GGV Capital raises USD 2.52 billion, to invest in global entrepreneurs
GGV Capital raises USD 2.52 billion, to invest in global entrepreneurs

California-based global venture capital firm GGV Capital has reportedly secured USD 2.52 billion from four new investments, marking it as the largest collection of funds it has ever raised in its 20-year history.

Most of the investment will be directed towards GGV Capital’s eighth flagship fund. The committed capital consists of a USD 80 million for GGV Capital VIII Entrepreneurs Fund, a USD 60 million for GGV Discovery III, USD 366 million for GGV Capital VIII Plus, and USD 1.46 billion for GGV Capital VIII.

It is worth noting that fund VIII is intended to support global entrepreneurs across all stages of their relevant growth. On the other hand, the Discovery VIII fund will emphasize investing in global companies that are in early-stage development. The Entrepreneur VIII fund is likely to be allocated towards expanding the GGV entrepreneur family network across the globe.

According to GGV Capital, these four newly secured funds expand the company’s sector-focused and multistage investment approach in technology firms. Eric Xu, Jeff Richards, Glenn Solomon, Hans Tung, Jenny Lee, and Jixun Foo will serve as managing partners of the fresh investments.

For those unaware, GGV Capital specializes in investing in seed-to-growth stage firms that operate in smart tech, enterprise tech, as well as social and internet sectors. The company currently manages around USD 9.2 billion in capital under management in over 17 funds.

For the past two decades, GGV Capital has supported several companies across the globe, including Slack, Grab, Alibaba, and Airbnb among others.

Although GGV is known for primarily investing in China and the United States, the company has also invested in Israel, Southeast Asia, India, and Latin America. Moreover, eleven companies in GGV’s portfolio have gone public in the last 15 months.

Source Credits –

https://techcrunch.com/2021/01/28/ggv-capital-just-announced-2-52-billion-across-new-funds-for-entrepreneurs-around-the-world/

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