GGV Capital, a venture capital firm focused on the U.S. and China, raised $620m for its fifth venture capital fund.
GGV Capital V will continue the firm’s strategy of making investments of $5-25m into companies in the Internet/Digital Media, Cloud/SaaS and Mobile sectors in the U.S. and China.
It will be led by managing partners Jixun Foo, Jenny Lee, Hany Nada, Jeff Richards, Glenn Solomon, and Hans Tung.
Founded in 2000, GGV Capital has backed some successful companies in these two markets including Alibaba Group, athenahealth, AAC Technologies, BlueKai, Buddy Media, Chukong Technologies, Domo, Endeca, Flipboard, GrabTaxi, HotelTonight, Houzz, Meilishuo, Nimble Storage, Pandora Media, Percolate, Qunar, SoundCloud, Square, SuccessFactors, Tujia, UCWeb, Wish, Youku-Tudou, YY, and Zendesk.
The firm currently manages $2.2 billion is based in Silicon Valley (Menlo Park, CA) and Shanghai, China.