Global venture capital firm GGV Capital closed new funds totaling $1.88 billion.
The new funds include:
– $1.36 billion in the firm’s main funds, GGV Capital VII and VII Plus,
– $460 million in GGV Discovery II focused on seed and early-stage opportunities, and
– $60 million in the GGV Capital VII Entrepreneurs Fund consisting largely of company founders as LPs.
Led by Jixun Foo, Jenny Lee, Hans Tung, Glenn Solomon, Jeff Richards, and Eric Xu, GGV is a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors.
The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance (Toutiao), Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more.
GGV has offices in Beijing, San Francisco, Shanghai and Silicon Valley.