China's GGV Capital raises $1.88b for new funds

China's GGV Capital raises $1.88b for new funds

GGV Capital managing partner Jenny Lee at the Asia PE-VC Summit 2018 organised by DEALSTREETASIA

US and Shanghai-based venture capital firm GGV Capital has closed its new funds at $1.88-billion, it said in an announcement on October 16.

The new funds include $1.36-billion in the firm’s main funds, GGV Capital VII and VII Plus, $460-million in GGV Discovery II focused on seed and early-stage opportunities, and $60-million in the GGV Capital VII Entrepreneurs Fund consisting largely of company founders as LPs.

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