MENLO PARK, Calif. and
SINGAPORE, Jan. 28, 2021 /PRNewswire/ -- Global venture
capital firm GGV Capital today announced the closing of the largest
family of funds in its 20-year history, totaling $2.52 billion. The committed capital includes
$1.464 billion for GGV Capital VIII,
L.P. ("Fund VIII"), $366 million for
GGV Capital VIII Plus, L.P. ("Fund VIII Plus"), $610 million for GGV Discovery III, L.P.
("Discovery III"), and $80 million
for GGV Capital VIII Entrepreneurs Fund ("Entrepreneur VIII").
11 GGV Capital portfolio companies have completed IPOs in the last
Over the past 15 months, 11 GGV portfolio companies have
completed public listings, including Affirm (NASDAQ: AFRM), Agora
(NASDAQ: API), Airbnb (NASDAQ: ABNB), BigCommerce (NASDAQ: BIGC),
DraftKings (NASDAQ: DKNG), eHang (NASDAQ: EH), Kingsoft WPS
(688111.SS), Poshmark (NASDAQ: POSH), Opendoor Technologies
(NASDAQ: OPEN), Wish (NASDAQ: WISH), and Xpeng (NYSE: XPEV).
These funds mark the continuation of GGV's multi-stage,
sector-focused investment strategy in leading technology companies
by a single global investment team. GGV's approach is centered
on three core tenets:
- Identify global trends and invest in local entrepreneurs to
build market-leading companies.
- Focus on three core sectors to ensure value creation across key
markets (Social/Internet, Enterprise Tech, and Smart Tech).
- Invest in entrepreneurs with companies at all stages of
The managing partners of the new funds are Jixun Foo, Jenny
Lee, Hans Tung, Glenn Solomon, Jeff Richards,
and Eric Xu. GGV's partners have more than 100 years of
collective experience working with first-time founders as well as
established leaders. Their connections to robust local
ecosystems and talent networks, proven "go global" track records,
and commitment to leadership development help the entrepreneurs
they work with to successfully navigate complex challenges as their
The new family of funds includes:
GGV Capital VIII,
GGV Capital VIII, L.P. ($1.464
billion) supports entrepreneurs across all stages of
GGV Capital VIII Plus,
GGV Capital VIII Plus, L.P. ($366 million) enables GGV to extend its
investment in portfolio companies that are part of Fund VIII that
have demonstrated ability to scale and have become category
GGV Discovery III, L.P.
GGV Discovery III, L.P. ($610
million) is dedicated to global entrepreneurs at their
earliest stage of development.
GGV Capital VIII
GGV Capital VIII Entrepreneurs
Fund ($80 million) invests
alongside the funds and continues the firm's tradition of extending
and building the GGV entrepreneur family network globally.
The closing of these funds coincides with one subsequent closing
of GGV Capital RMB Fund II, with total committed capital of
approximately RMB 3.4 billion
($525 million). This increases the
firm's total capital under management to approximately $9.2 billion across 17 funds.
These funds position the firm to continue to serve entrepreneurs
as they realize their vision to change the world.
About GGV Capital
GGV Capital is a global venture firm that invests in local
founders, managing $9.2 billion with
investments in the United States,
Canada, China, Southeast
Asia, India, Latin America, and Israel from offices in Silicon Valley,
San Francisco, Singapore, Shanghai, and Beijing. As a multi-stage, sector-focused
firm, GGV Capital invests in seed-to-growth stage companies across
three sectors: Social/Internet, Enterprise Tech, and Smart
Tech. Over the past two decades, the firm has backed more than 400
companies around the world, including Affirm, Airbnb, Alibaba, Big
Commerce, Boss Zhipin, Grab, HashiCorp, Hello, JD MRO, Keep,
Kujiale, Manbang, NIU, Opendoor Technologies, Peloton, Poshmark,
Qunar/Ctrip, Slack, Square, StockX, Udaan, Wish, Xpeng, Zendesk,
Zuoyebang, and more. More information at www.ggvc.com and
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SOURCE GGV Capital