GGV Capital Raises $450M For Follow-On Fund

GGV Capital, a venture capital firm focused on investing in technology and consumer companies in the U.S. and China, has launched a follow-on investment vehicle with a fundraising target of US$450 million, according to a securities filing.

The fund, which was named GGV Capital Select LLC and first disclosed in a February filing, will make follow-on investments in existing portfolio companies. It brings the firm’s total capital under management to over US$2.65 billion.

In May 2014, GGV Capital raised US$620 million for its fifth venture fund.

Founded in 2000, GGV Capital backed some of the most successful companies in the U.S. and China, including Alibaba Group Holdings, Qunar, Youku-Tudou, YY, and 21Vianet.

The firm, based in Menlo Park, California and Shanghai, has six managing partners including Jixun Foo, Jenny Lee, Hany Nada, Jeff Richards, Glenn Solomon, and Hans Tung.

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