Famed Tech-Focused Venture Capital Fund Raises $2.5 Billion

International venture capital firm GGV Capital has raised $2.52 billion across four funds, its largest deal to date.
GCV raised $1.464 billion, $366 million, $610 million, and $80 million from GGV Capital VIII, GGV Capital VIII Plus, GGV Discovery III, and GGV Capital VIII Entrepreneurs Fund, respectively.
These funds mark the continuance of GGV's multi-stage, sector-focused investment strategy in leading technology companies by a single international investment team.
In the last 15 months, many high-profile companies from the GCV portfolio have gone public, including Affirm Holdings Inc AFRM, Agora Inc API, Airbnb Inc ABNB, BigCommerce Holdings, Inc BIGC, DraftKings Inc DKNG, eHang Holdings Ltd EH, Poshmark Inc POSH, Opendoor Technologies Inc OPEN, ContextLogic Inc WISH, and Xpeng Inc XPEV.
Jixun Foo, Jenny Lee, Hans Tung, Glenn Solomon, Jeff Richards, and Eric Xu are the managing partners of the new funds.
The closing of these funds overlaps with GGV Capital RMB Fund II's closing, with total committed capital of $525 million.
The overlap has raised the firm's total capital under management to $9.2 billion across 17 funds.