Formerly known as Granite Global Ventures, GGV Capital was founded in 2000.[1]Jenny Lee established GGV's Shanghai office in 2005.[3]
In 2019, GGV was still based in the US and China, and that year it opened its fifth office, in Singapore.[4] The company had invested US$6.2bn by 2019.[5] In March 2022, GGV Capital raised money for the AAPI community from a group of venture capitalists and founders.[6] The company in 2022 had around $9bn in assets under management.[7]
Since its founding, GGV has invested in more than 200 active companies across the United States, Latin America, Israel, Southeast Asia, China and India, with over 56 of which are valued at over $1 billion.[11] According to the Center for Security and Emerging Technology, GGV is "most active in financing Chinese AI companies."[12][13][2]
The company in 2014 closed its $620m fund for startups in the US and China.[14] GGV Capital led a $76m funding round for GaiaWorks in 2020.[15] By 2021 GGV had invested in Next Gen Foods in Singapore.[16]
Following US sanctions on Megvii, GGV announced its intentions to divest in 2024.[17]
References
^ ab"SPEAKER LINEUP". Wild Digital. November 26, 2019. Archived from the original on January 14, 2020. Retrieved January 14, 2020.
^ ab"America's plan to vet investments into China". The Economist. June 22, 2023. ISSN0013-0613. Archived from the original on 2023-06-22. Retrieved 2023-06-22. Consider GGV Capital, one of the most active American investors in Chinese AI companies, according to data from PitchBook. Our analysis of public disclosures suggests that six American pension funds and endowments with combined assets exceeding $600bn have committed around $2bn to GGV Capital's funds in the past decade.
