US/China GGV Capital announces $625 Million in new funds

21 August 2012 15 h 44 min Comments Off

Share this Article



Firm will continue its focus on global opportunities in the US and China

MENLO PARK, Calif. and SHANGHAI, Aug. 21, 2012 — GGV Capital, a top venture capital firm focused on the US and China, today announced that it has raised $625 million for its fourth venture capital fund.

The fund is comprised of US$520 million and RMB 650 million (the Chinese currency equivalent of approximately US$105 million). GGV’s Fund IV exceeds the size of the firm’s $610 million Fund III, which was raised in 2007. Total capital under management is now more than $1.6 billion.

Founded in 2000, GGV Capital is one of the only venture capital firms in the world with a single, global team investing across the US and China. The firm has consistently backed some of the most successful companies in those two markets including Alibaba Group, AthenaHealth, AAC Technologies, Buddy Media, Endeca, hiSoft, Isilon, Pandora Media, Qunar, Square, SuccessFactors, Tudou, UCWeb, YY and 21ViaNet.

“GGV redefined the concept of a US/China firm. It is extremely challenging to do what the GGV team does – execute across the US and China,” said Brien Smith, Managing Director, Neuberger Berman, a GGV limited partner. “GGV’s long history of success and strong reputation for partnering with top entrepreneurs in both markets set the firm up well for future success.”

Thirteen (13) GGV portfolio companies have completed IPOs across six different exchanges since 2010 (NYSE, NASDAQ, EuroNext Paris, Hong Kong, ChiNext and Shanghai), and several have been a part of the technology industry’s largest recent M&A transactions including Buddy Media (Salesforce), Endeca (Oracle), hiSoft (VanceInfo), Qunar (Baidu), SuccessFactors (SAP) and Tudou (Youku).

“GGV Capital was a tremendous growth stage investment partner for SuccessFactors. In an extremely competitive situation, GGV had the foresight to be decisive when others waivered. It’s that killer instinct that stands out for me,” said Lars Dalgaard, SuccessFactors founder and CEO. “The GGV team played a major role in our growth, from IPO to expansion into Asia to our ultimate $3.4 billion acquisition.”
“Entrepreneurs require different levels of expertise at every stage of growth,” said Gary Wang, CEO of Tudou. “GGV truly works as a team – we had Partners from both Asia and the US involved at the Board level helping us drive Tudou from our early expansion years to our IPO and eventual $1 billion merger with Youku. Perhaps the strongest statement is that a GGV Partner, Jixun Foo, is the only investor who will remain on the board going forward.”

With Fund IV, GGV Capital will continue its strategy of making expansion stage investments of $5 – 25 million into leading companies in the Internet/Digital Media,Cloud/SaaS and Mobile sectors in the US and China as well as the Consumer sector in China.

The firm’s General Partners are Jixun Foo, Jenny Lee, Hany Nada, Thomas Ng, Jeff Richards, Glenn Solomon and Fumin Zhuo. Additional partners in the RMB fund include Jessie Jin and Bruce Yu. Recent investments in Fund IV include SoundCloud, Meilishuo, Citrus Lane, RYB and Douguo.

About GGV Capital
GGV Capital is a $1.6 billion expansion stage venture capital firm based in Silicon Valley (Menlo Park, CA) and Shanghai, China. Founded in 2000, the firm leverages a unique operating model – one team investing across the US and China, the two largest economies in the world. GGV portfolio companies include Alibaba Group, Appirio, AthenaHealth, Buddy Media, Endeca, hiSoft, Isilon, Meihua, Meilishuo, Pandora Media, Qunar, SoundCloud, Square, SuccessFactors, Tudou, UCWeb, YY and 21ViaNet.

SOURCE GGV Capital (21/08/2012)


. “GGV Capital, With $625 Million In New Funds, Targets China, U.S. Growth” (Forbes, 21/08/2012)

Related posts:

Comments are closed

Other News

  • China (mainland) film Brilliant future expected for Chinese cinema: interview

    Brilliant future expected for Chinese cinema: interview

    Jiang Wen (R), a well-known Chinese director, walks down the red carpet with his wife Zhou Yun at the opening ceremony of the 70th Venice Film Festival in Venice, Italy, Aug 29, 2013. [Photo / Xinhua] (Xinhua, 04 Sep, 2013)Chinese films have achieved over the past few years very positive results in terms of both quantity and quality, and will drive their technology-led development, 70th Venice Film Festival president Alberto Barbera told Xinhua in a recent exclusive interview. This venerable [...]

    Read more →
  • Breaking news China (mainland) film Cloudary extends script to movie industry

    Cloudary extends script to movie industry

    (, 26 Aug, 2013) Cloudary Corp – an online literature platform owned by interactive media giant Shanda Group – said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films. Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneu r Bruno Wu, will link Cloudary’s literature with the world’s movie industry. Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The [...]

    Read more →
  • Breaking news China (mainland) film China’s movie market booms with local content

    China’s movie market booms with local content

    ( Agencies, 23 Aug, 2013) In “American Dreams in China”, Cheng Dongqing is giving a lecture in an abandoned factory in Beijing . Snow falls through the damaged roof and a power cut sends students reaching for their flashlights. The movie , about how young Chinese in the 1990s tried every means to learn English so they could study overseas, is part of a boom in domestic productions that is outpacing foreign film s at the box office in China. [...]

    Read more →
  • Breaking news China (mainland) film Fast forward with film

    Fast forward with film

    (China Daily, 23 Aug, 2013) In the past year, Chinese films have galloped ahead like a dark horse, beating Hollywood imports. It is hardly surprising that most of these domestic hits are comedies. Comedy is mostly local. When Hollywood sent scouts to recover the secret formula, many of them reported that these Chinese movies were not particularly funny. Of course not. When you translate every line into English, you have lost much of the fun, leaving only a few sight [...]

    Read more →
  • Breaking news China (mainland) Digital Mobile game firms looking abroad

    Mobile game firms looking abroad

    (China Daily, 21 Aug, 2013) Intensifying domestic competition is driving Chinese mobile game developers into overseas markets, said Google Inc, owner of the world’s most used smartphone operating system. Japan and South Korea may become “sizeable” money-spinners for developers in China in the coming years, it added. “Tapping into South Korea and Japan makes sense for Chinese developers, because both countries have a large smartphone user base and high sales volume in the mobile gaming sector,” said Ben Zhang, China [...]

    Read more →
  • Breaking news China (mainland) tv PPTV denies buyout rumors

    PPTV denies buyout rumors

    (, 14 Aug, 2013) Online video provider PPTV has denied rumors it will be jointly acquired by e-commerce giant Alibaba Group Holding Ltd and Hunan Satellite TV. “We have noticed related media reports. PPTV is operating independently, well, and we have nothing to announce at present,” PPTV told China Daily on Wednesday. A report from IT industry portal said on Wednesday that the prospective deal is almost closed, with the transaction reaching $400 million. It cited venture capital sources [...]

    Read more →
  • Breaking news China (mainland) film Film industry needs long tail to grow

    Film industry needs long tail to grow

    (China Daily, 15 Aug, 2013) The domestic film market registered record half-yearly box office returns of 10.9 billion yuan ($1.77 billion) in the first six months of this year, up 35 percent year-on-year, and there have been excited voices saying that the Chinese film industry is about to boom in the international market. However, box office success is just part of the industry’s chain, and without the further development of licensed movie merchandising, the Chinese film industry is still in [...]

    Read more →
  • Breaking news China (mainland) Digital New WeChat game becoming painfully popular

    New WeChat game becoming painfully popular

    (, 15 Aug, 2013) A new mobile phone game on WeChat, a social network app in China, is proving so popular that it’s causing hand injuries for many Chinese users. The game, which was recently introduced to WeChat’s 400 million subscribers, allows users to compete online with their friends in aircraft battles. Within two hours after the release of the game on Aug 5, there were more than 180 million downloads. But Zou Cheng, an orthopedic doctor at Hangzhou First [...]

    Read more →