GGV Capital Secures $620 Million In It’s Fifth Funding Round.
A leading Venture capital firm focused on the U.S. and China, has recently announced that it has managed to receive a total of $620 million for its fifth venture capital fund. GGV Capital V is consistent on size and strategy with the firm’s previous funds, bringing its total capital under management to more than $2.2 billion
Founded during 2000, GGV capital is one of the only venture capital firms in the world with a single, global team investing across China and the U.S..The firm has been backed by some of the most successful companies around the market, these include Alibaba Group, athenahealth, AAC Technologies, BlueKai, Buddy Media, Chukong Technologies, Domo, Endeca, Flipboard, GrabTaxi, HotelTonight, Houzz, Meilishuo, Nimble Storage, Pandora Media, Percolate, Qunar, SoundCloud, Square, SuccessFactors, Tujia, UCWeb, Wish, Youku-Tudou, YY, Zendesk, and 21Vianet.
“GGV defined the concept of a U.S./China venture capital firm,” said Tim Recker, managing director of University of California Regents, an existing GGV investor participating again in Fund V. “The GGV team is at the forefront of technology and innovation happening across these two very important markets, and we are pleased to be investing again with the GGV team in Fund V.”
“We’re thrilled to be investing with one of the top performing global VC firms,” said Lindel Eakman, managing director of University of Texas Investment Management Company (UTIMCO), a new investor in GGV Capital V. “For more than a decade, GGV has consistently built relationships with the top entrepreneurs in the U.S. and China.”
Sixteen GGV portfolio companies have manage to complete their IPOs across six different exchanges as of 2010(NYSE, NASDAQ, EuroNext Paris, Hong Kong, ChiNext and Shanghai), including recent IPO’s for Nimble Storage, Pandora Media, Todou Yoku. GGV Portfolio companies Alibaba Group, Chukong Technologies and Zendesk have all recently filed for initial public offerings. GGV was an early investor in Alibaba Group, making it their first investment back in 2002, three years before the company’s transactions with Yahoo. Three of the firms six managing partners were named to the Forbes Midas List during 2014, and the firm has managed to rank among the top 10 VC firms.
“Entrepreneurs require different levels of expertise at every stage of growth,” said CC Zhuang, CEO of Qunar. “GGV truly works as a team. We have had partners from both China and the U.S. helping us build Qunar into China’s largest online travel player, structure our transaction with Baidu, and execute our successful IPO. The firm brings a truly unique set of capabilities and strategic thinking on a global basis.”
“GGV Capital was a tremendous growth stage investment partner for Pandora,” said Tim Westergren, founder of Pandora Media. ”The GGV team played a key role in helping us think through scaling one of the world’s largest consumer media platforms, evaluating global expansion, executing the IPO and growth as a public company.”
GV Capital will continue its current strategy of making investments over $5-26 million into leading companies in the Internet/Digital Media, Cloud/SaaS and Mobile sectors within the U.S. and China. The firm’s managing partners are Jixun Foo, Jenny Lee, Hany Nada, Jeff Richards, Glenn Solomon, and Hans Tung, all of whom were managing partners in GGV Capital IV.