US and China-focused venture firm GGV targets $1.13b for two new funds

From the GGV website

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.

Also Read: 

Temasek, Hillhouse Capital invest $150m in Chinese home listings portal Aiwujiwu

Singapore’s Ascott and consortium invests $90m in ‘China’s Airbnb’ Tujia.com

GrabTaxi rebrands itself as Grab saying it is more than a taxi app

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.