Leveraged buyouts, growth capital, angel investments, and seed funding—these private transactions take place, largely out of the public’s eye, not only in Connecticut or Silicon Valley, but also in Beijing, Shenzhen, and Shanghai.
In 2016, China’s private equity (PE) and venture capital (VC) firms raised over $70 billion, more than 20% of total such funding globally. At the same time, these firms also deployed capital to the tune of $223 billion, accounting for more than 70% of global PE/VC investments.
As late comers, these Chinese firms have rapidly grown into formidable financiers. Most Chinese PE firms are particularly interested in products and services that can be commercialized and scaled up quickly in China. They tend to invest in areas that align with China’s shift to a more consumer-driven economy. Meanwhile, Chinese VCs have been active players globally, particularly in Silicon Valley. They have focused on areas such as artificial intelligence, Internet of Things, and electric vehicles.
GGV Capital is a venture capital firm with $3.8 billion assets under management. Operating eight funds in Beijing, Shanghai, and Palo Alto, the firm invests in companies across the Internet and mobile, hardware, cloud computing, and SaaS sectors.
Beijing: (010) 5989.7988; Shanghai: (021) 6161.1720; California: (650) 475.2150
In January 2015, GGV Capital, along with Digital Sky Technologies, Founders Fund, AME Cloud Ventures, and Vaizra Investments, provided $25 million in Series B funding to Boxed, a New York-based wholesale shopping company.
In July 2014, GGV Capital provided $10 million in Series B funding to Curse Inc., an Alabama-based online gaming services company.