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Market Overview

Famed Tech-Focused Venture Capital Fund Raises $2.5 Billion

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  • 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 (NASDAQ: AFRM), Agora Inc (NASDAQ: API), Airbnb Inc (NASDAQ: ABNB), BigCommerce Holdings, Inc (NASDAQ: BIGC), DraftKings Inc (NASDAQ: DKNG), eHang Holdings Ltd (NASDAQ: EH), Poshmark Inc (NASDAQ: POSH), Opendoor Technologies Inc (NASDAQ: OPEN), ContextLogic Inc (NASDAQ: WISH), and Xpeng Inc (NYSE: 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.
 

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Posted-In: Venture CapitalNews Financing Tech

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