GGV Capital Raises $2.5 Billion Across Four Funds
San Francisco – January 29, 2021 – Cooley advised GGV Capital on raising $2.52 billion across four funds, which will focus on tech startups and growth deals in the US and China. The closing represents the largest family of funds raised by GGV since its inception. Cooley partner Jordan Silber led the team advising GGV.
GGV Capital VIII will support entrepreneurs across all stages of growth; GGV Capital VIII Plus enables GGV to extend its investment in portfolio companies that are part of Fund VIII that have demonstrated ability to scale and have become category leaders; GGV Discovery III is dedicated to global entrepreneurs at the earliest stage of development; and GGV Capital VIII Entrepreneurs Fund will continue to the firm’s tradition of extending and building the GGV entrepreneur family network globally.
The closing of the funds coincides with one subsequent closing of GGV Capital RMB Fund II, with total committed capital of approximately $525 million. This increases the firm's total capital under management to approximately $9.2 billion across 17 funds.
“It’s been another productive, highly efficient experience working with Jordan and his team at Cooley once again to raise our biggest funds in history in less than three months,” said Jenny Lee, managing partner at GGV. “We are excited as this capital will allow GGV to continue to invest in entrepreneurs around the world across all stages of growth.”
GGV Capital has been a Cooley client since its founding in 2000. Cooley has advised GGV on the closing of all its USD-denominated funds and 80+ of its financing transactions across the US, China, Southeast Asia and India. GGV Capital invests in seed-to-growth stage companies across three sectors: social/internet, enterprise tech and smart tech. Over the past two decades, GGV has backed more than 400 companies around the world. In the past 15 months, 11 GGV portfolio companies have completed public listings, including Affirm, Agora, Airbnb, BigCommerce, DraftKings, eHang, Kingsoft WPS, Poshmark, Opendoor Technologies, Wish and Xpeng.
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