GGV Capital, a venture capital firm focused on the U.S. and China, closed its new funds totaling $1.2 billion.
The new funds include:
– $900m in the firm’s main fund, GGV Capital VI and VI Plus,
– $250m in GGV Discovery I focused on early stage opportunities in China, and
– $50m 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.
Founded in 2000 and based in Menlo Park and Shangai, GGV Capital leverages a model of a single, global team investing across the U.S. and China. Led by Managing Partners Jeff Richards, Jenny Lee, Hany Nada, Jixun Foo, Glenn Solomon, Hans Tung, all of whom were managing partners of GGV Capital V, the firm focuses on investing in Social/Mobile Commerce, Internet of Things (IoT)/Robotics, and SaaS/Cloud companies.
Its main fund will continue to focus on early and growth stage companies while the launch of GGV Discovery I will extend GGV’s scope to include seed and early stage entrepreneurs. Approximately 80% of the capital from the Discovery fund will be invested in the Chinese startup market and 20% with global-minded entrepreneurs in the U.S. and other markets.
GGV has $3.8 billion under management across 8 funds, with the portfolio including Airbnb, Alibaba, AlienVault, Appirio, BlueKai, Boxed, Buddy Media, Chukong, Curse, Diandian Yangche, Didi Chuxing, Domo, Douguo, DraftKings, Endeca, EHANG, FlightCar, Flipboard, Grab, Glu Mobile, HotelTonight, Houzz, IWJW, Keep, Kingsoft WPS, Light Chaser Animation, Meilishuo, MediaV, Misfit, Musical.ly, Nimble Storage, Niu, OpenDoor, Pactera, Pandora Media, Percolate, Quixey, Qunar, Reebonz, Slack, SmartMi, SoundCloud, Square, SuccessFactors, Synack, Tile, Tujia, UCWeb, Wish, Xiaohongshu, Xiaozhan, YingYing, Youku Tudou, YY, Zendesk, Zepp Labs, Zimi, 1More, 21Vianet, and 51credit.