GGV Capital raises $620 million for fifth fund
GGV Capital is a venture capital firm that backed companies like Alibaba, HotelTonight, Buddy Media, Flipboard, Pandora, Zendesk, and Tudou. GGV Capital has raised $620 million for its fifth venture capital fund. This is just $5 million less than its previous fund, which was raised in 2012. This brings GGV Capital’s total capital under management to over $2.2 billion.
GGV Capital was founded in 2000 and focused on investing in companies across the U.S. and China since then. GGV Capital has 3 companies currently in IPO registration, including Alibaba, Zendesk, and Chukong. GGV Capital has backed companies with 16 IPOs since 2010. GGV Capital is planning to keep its investments in the expansion stage with rounds in the range of $5 million to $25 million.
The managing partners in this fund will be Jixun Foo, Jenny Lee, Hany Nada, Jeff Richards, Glenn Solomon, and Hans Tung.