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The VCs who long run GGV Capital , the 24 - year - old cross - border firm that helped help as a bridge between the U.S. and China , have settle on two novel sword roughly six month after announcing they would split up their U.S. and Asia mental process .
Veteran investors Jenny Lee and Jixun Foo just rebranded their Singapore - based operation asGranite Asia , as firstreportedin Forbes . Meanwhile , Hans Tung , a firm co - founder who inhabit in the Bay Area , announced on Xon Saturday that the U.S. team is now calledNotable Capital .
GGV Capital declare last crepuscule that it was splitting up its squad amid growing tenseness between the U.S. and China , though it never cited the standard pressure as the explicit number one wood of the move .
Sequoia Capital similarly split up its operation last year as it navigated geopolitical stress . In Sequoia ’s case , the U.S. team hold onto the storied brand , while Sequoia India & Southeast Asia was rebranded as Peak XV Partners , and Sequoia China was rebranded as HongShan , the Mandarin word for sequoia .
The thinking in abandoning the GGV Capital stain , per a source familiar , was that because both teams are operating separately run forward , they felt it was best to develop new brands .
Granite Asia is being led by Lee and Foo , native Singaporeans . Lee is a regular habitue on Forbes ’s Midas List of top - performing VCs , with nine IPOs in the last five years , including the smartphone giant Xiaomi and the software developing fellowship Kingsoft WPS , which break public in 2018 and 2019 , respectively .
Foo , whose championship was formerly orbicular managing director of GGV Capital , is meanwhile credited with deals that include the electric car manufacturer Xpeng Motors , which went public in 2020 ; drive - hail giant Didi , which is reportedly planning a list in Hong Kong this year ; and the delivery company Grab , whose ploughshare have underperform since it became in public traded through a special use acquisition vehicle in late 2021 . ( It was reportedly in talks as of late aslast monthto merge with another beleaguered rival , GoTo Group . )
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Granite Asia will focus on startups in China , Japan , South Asia , Australia and Southeast Asia .
Notable Capital — which says it plans to continue investing in the U.S. , as well as in Europe and Latin America — is being led by the same investor who ’ve been based in its Menlo Park office for many twelvemonth . That admit Tung , who is Taiwanese - American and whose raft let in known mark likeAirbnb , StockX and Slack ; Jeff Richards , who has backedCoinbase , the Bluetooth - trailing rig Tile and the computer software exploitation party Handshake ; and Glenn Solomon , whose hand includeHashiCorp , whose software help oneself companies operate in the swarm ( it ’s reportedlyweighing a saleright now ) ; the in public traded house - buying platformOpendoor ; and the obligingness automation startup Drata .
Oren Yunger , the newest member of GGV Capital , also remains on squad Notable . Yunger had conjoin GGV as an investor in 2018 and was boost to make out theatre director last fall .
Another longtime managing managing director at GGV Capital , Eric Xu , who is based in Shanghai , will keep to supervise the original house ’s severally operated yuan - denominated funds .
Roughly two - and - a - half year ago , GGV Capital announced it had raised$2.5 billionfor its raw investment trust , mark its largest crime syndicate of funds ever . The investors have since split those assets under management , along with the capital letter raised prior , such that Granite Asia is now managing a collective $ 5 billion altogether , leave alone Notable Capital with roughly $ 4.2 billion base on GGV Capital ’s plus under management at the clip the rip was announced .
show above , leave alone to right : Jeff Richards , Eric Xu , Glenn Solomon , Jenny Lee , Jixun Foo and Hans Tung
