GGV Seeks $500M For Fifth China-U.S. Fund

Silicon Valley- and Shanghai-based venture capital firm GGV Capital is planning to raise US$500 million for its fifth fund, according to media reports.

The latest fund is expected to reach a closing during the first half of this year, and will continue to focus on investing in companies in the U.S. and China.

GGV Capital’s fourth fund raised US$625 million in 2012, and its third fund collected US$610 million in 2008.

GGV recently backed a number of Chinese technology companies.

Founded in 2000, GGV focuses on investing in companies that can succeed across the U.S. and China, typically making expansion stage investments of US$5 million to US$25 million.