GGV Capital Splits Amid US-China Tensions: Launch of Notable Capital and Granite Asia
In a significant transformation within the venture capital landscape, GGV Capital has concluded its longstanding operations, paving the path for the inception of two distinct entities. This division underscores a strategic response to the escalating US-China tensions, leading to the formation of Notable Capital in the United States and Granite Asia in Singapore. Both ventures emerge with a clear focus, leveraging the robust foundation and cross-border investment philosophy that defined GGV Capital's success over the years.
Notable Capital: Continuation of US, Europe, and Latin America Focus
Led by co-founder Hans Tung, Notable Capital is positioned to sustain and expand its investment endeavors in the US, Europe, and Latin America. The team, comprising key figures such as Jeff Richards, Glenn Solomon, and the recent addition of Oren Yunger, along with Eric Xu managing the yuan-denominated funds in Shanghai, aims to carry forward GGV's legacy in identifying and nurturing technology ventures. With an asset base of approximately $4.2 billion, the newly minted firm is set to navigate the dynamic investment terrain with a keen eye on cultivating groundbreaking technologies.
Granite Asia: Spearheading Investments in Asia-Pacific
On the flip side, Granite Asia embarks on its journey with a sharp focus on the Asia-Pacific region, under the leadership of veteran investors Jenny Lee and Jixun Foo. With an impressive track record, including Lee's involvement in nine IPOs over the past five years and Foo's instrumental deals with entities like Xpeng Motors and Didi, Granite Asia stands as a powerhouse targeting investments in China, Japan, South Asia, Australia, and Southeast Asia. Managing a robust portfolio of $5 billion, the firm is poised for impactful contributions to the region's burgeoning tech landscape.
The strategic division into Notable Capital and Granite Asia marks a new chapter in the saga of venture capital innovation, adapting to geopolitical shifts while staying true to the mission of fostering technological advancement and economic growth across borders.
By leveraging their distinct geographical focuses and drawing from a rich heritage of cross-border investment acumen, both entities are well-equipped to navigate the complexities of the current economic climate. The venture capital world watches eagerly as Notable Capital and Granite Asia chart their courses, potentially setting new benchmarks for success in the industry.
Analyst comment
Positive news: The division of GGV Capital into Notable Capital and Granite Asia is a strategic response to US-China tensions. Both entities will continue to invest and nurture technology ventures in their respective regions. Notable Capital will focus on the US, Europe, and Latin America, while Granite Asia will spearhead investments in the Asia-Pacific region. Both firms have significant asset bases and experienced leadership, positioning them well for success in the venture capital industry. The market is expected to benefit from their distinct geographical focuses and cross-border investment expertise.
