GGV Capital was an American
venture capital
Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...
firm. The firm was established in 2000 and was headquartered in
Menlo Park, California
Menlo Park ( ) is a city at the eastern edge of San Mateo County, California, San Mateo County in the San Francisco Bay Area of California, United States. It is bordered by San Francisco Bay on the north and east; East Palo Alto, California, Eas ...
. Formerly known as Granite Global Ventures,
the firm had become one of the most active American investors in the
Chinese artificial intelligence industry.
History
Formerly known as Granite Global Ventures, GGV Capital was founded in 2000.
established GGV's Shanghai office in 2005.
In 2019, GGV was still based in the US and China, and that year it opened its fifth office, in Singapore.
The company had invested US$6.2bn by 2019.
In March 2022, GGV Capital raised money for the
AAPI community from a group of venture capitalists and founders.
The company in 2022 had around $9bn in assets under management.
In July 2023, the
United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party initiated an investigation into GGV and other venture-capital firms' investments in China. In September 2023, GGV announced that it was spinning off its China operations. On March 29, 2024, GGV split into two firms,
Granite Asia which would focus on Asian investments and Notable Capital which would focus on US investments.
Investments
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. According to the
Center for Security and Emerging Technology
The Center for Security and Emerging Technology (CSET) is a think tank dedicated to policy analysis at the intersection of national and international security and emerging technologies, based at Georgetown University's School of Foreign Service. ...
, GGV is "most active in financing Chinese AI companies."
The company in 2014 closed its $620m fund for startups in the US and China.
GGV Capital led a $76m funding round for GaiaWorks in 2020.
By 2021 GGV had invested in Next Gen Foods in Singapore.
Following US sanctions on
Megvii
Megvii () is a Chinese technology company that designs image recognition and deep-learning software. Based in Beijing, the company develops artificial intelligence (AI) technology for businesses and for the public sector.
Megvii is the largest ...
, GGV announced its intentions to divest in 2024.
References
External links
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{{DEFAULTSORT:Ggv Capital
Financial services companies established in 2000
Companies based in Menlo Park, California
Privately held companies based in California
Venture capital firms of the United States
Defunct financial services companies of the United States