GGV Capital, a venture capital firm that invests in both U.S. and China-based companies, is raising $1.13 billion, in two funds, according to separate filings with the SEC.
The first fund is its sixth vehicle – GGV Capital VI – that is targeting to raise $880 million.
The other fund is GGV Discovery I, where it is targeting to riase $250 million, and both vehicles have not had their first close yet, the filings show.
Its sixth vehicle is targeting a substantially higher corpus than the fifth vehicle – GGV Capital V – which is estimated to have made a final close at $622 million in 2014, according to Thomson Reuters data.
The venture firm boasts of several companies in its portfolio that have seen listings in the recent past, including customer support company Zendesk, which went public in May 2014, hybrid array vendor Nimble Storage that undertook an IPO in 2013, and payments company Square, which listed in November, 2015.
Other noted firms in its portfolio include US-based e-commerce company Wish, and as per media reports, both Amazon and Alibaba have held talks to buy out this company, that is reportedly valued at around $3 billion, and its USP includes selling almost all products under $25, with hardly any shipping charges. It also led the $20 million series B round in Opendoor, that buys up people’s houses and resells it, and had also lead a $60 million round in Saas business Domo. Both Opendoor and Demo have subsequently raised $80 million and $500 million respectively in follow-on funding rounds.
In China, its investments include online travel information site Qunar and the video sharing site Tudou, both of which have since gone public, as well as taxi hailing company Didi Kuaidi.