GGV adds new managing partner Eric Xu

While at SIG, Xu focused on investments in consumer internet and frontier tech – emerging technologies that have yet to achieve widespread commercial adoption. He served on the board of several of SIG's portfolio companies, including parent-focused social media platform Babytree and fruit and vegetable e-commerce site Fruitday.

Xu also helped bring GGV as a co-investor in its portfolio companies, including personal finance app developer 51credit, whose $50 million Series B round in 2015 was led by GGV.

"Early stage companies in China move extremely fast with very few resources so it takes a unique investor to recognize potential of both founders and ideas, and be able to cultivate those into vibrant, meaningful global companies. Eric is a tremendous asset for any founder and we are thrilled to be working with him," said GGV Managing Partner Jixun Foo in a statement.

Xu's earlier career in venture capital includes stints as an investment professional at CITIC Capital and TDF Capital, where he led investments into digital publishing company ChineseAll and consumer app infrastructure developer Visual China. Prior to this he worked as an investment banker at CLSA and its joint venture in China.

GGV's latest VC fund, GGV Capital VI, closed last April at $1.2 billion. The fund comprises three vehicles – a core venture fund, an early stage fund and an entrepreneurs fund – in addition to a parallel top-up fund. Investments focus on start-ups and growth-stage technology companies in China and the US.

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