GGV Capital was an American venture capital firm. The firm was established in 2000 and was headquartered in Menlo Park, California. Formerly known as Granite Global Ventures, the firm had become one of the most active American investors in the Chinese artificial intelligence industry.

History

Formerly known as Granite Global Ventures, GGV Capital was founded in 2000. Jenny Lee established GGV's Shanghai office in 2005. In 2019, GGV was still based in the US and China, and that year it opened its fifth office, in Singapore. The company had invested US$6.2bn by 2019. In March 2022, GGV Capital raised money for the AAPI community from a group of venture capitalists and founders. The company in 2022 had around $9bn in assets under management. In July 2023, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party initiated an investigation into GGV and other venture-capital firms' investments in China. In September 2023, GGV announced that it was spinning off its China operations. On March 29, 2024, GGV split into two firms, Granite Asia which would focus on Asian investments and Notable Capital which would focus on US investments.

Investments

Since its founding, GGV has invested in more than 200 active companies across the United States, Latin America, Israel, Southeast Asia, China and India, with over 56 of which are valued at over $1 billion. According to the Center for Security and Emerging Technology, GGV is "most active in financing Chinese AI companies." The company in 2014 closed its $620m fund for startups in the US and China. GGV Capital led a $76m funding round for GaiaWorks in 2020. By 2021 GGV had invested in Next Gen Foods in Singapore. Following US sanctions on Megvii, GGV announced its intentions to divest in 2024.