This morning we announced the closing of our newest fund, GGV V. It’s a $620 million venture capital fund focused on investing in great entrepreneurs in the U.S. and China, and mirrors the size and strategy of our prior funds: Fund IV ($525 million) and Fund III ($600 million).
The most important takeaways:
1) It’s another $620 million that will go towards the financing and growth of great companies. That’s good for entrepreneurs.
2) It’s another strong sign that the venture capital model is alive and well. We had more than 2X committed demand from our limited partners (our investors) and a relatively short fundraising process. The message was clear: investors in the VC asset class believe the opportunity for disruption and innovation over the next 5-10 years is as great as it’s ever been, and returns from top VC firms have been stellar for the past few years (outpacing hedge funds and other “alternative” investments).
We want to be the first call for entrepreneurs building category-defining companies across the U.S. and China. Thanks to the support of our LP’s, Fund V will enable us to continue to focus on that mission.
Read the TechCrunch article on the new fund here.
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