GGV Capital
VCs to take Kingsoft across borders, platforms
Hong Kong-listed software developer Kingsoft is not in desperate need of capital. It posted a net profit of RMB466.4 million ($76.6 million) in 2012, up 39% year-on-year, and its cash reserves stood at RMB2.4 billion for the year. Furthermore, in July...
Kingsoft receives $50m from Morningside, GGV, Shunwei
Kingsoft Office Software, an office suite that competes with Microsoft Office, has received $50 million in commitments from Morningside Technologies, GGV Capital and Shunwei China Internet Fund.
VC fundraising: Where angels flock
Venture capital fundraising has become difficult for all but the select few in Asia as LPs concentrate their resources on established names. Where will replacement investors come from?
Qunar shares nearly double on NASDAQ debut
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, saw its stock nearly double on the first day of trading on NASDAQ on Friday. It betters the 42% gain posted by VC-backed Chinese classifieds website 58.com a day earlier.
Baidu, VC-owned Qunar ups US IPO target
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, has increased the indicative price range for its forthcoming IPO and is now expected raise as much as $155.4 million.
Ex-Qiming partner Hans Tung joins GGV Capital
Hans Tung, formerly Beijing managing partner at Qiming Venture Partners, has become a partner at GGV Capital. He is based in Silicon Valley but will be part of GGV’s single team that invests across the US and China.
Baidu, VC-backed Qunar sets terms for $127m US IPO
Qunar, a Chinese-travel website majority-owned by internet search giant Baidu, is seeking to raise up to $127.8 million through its NASDAQ IPO. The company is also backed by GSR Ventures and GGV Capital, neither of which will sell any shares in the offering.
New Horizon leads $50m round for China's Chukong Technologies
New Horizon Capital has led a $50 million Series D round of investment in Chukong Technologies, a Chinese mobile game developer. GGV Capital, Sequoia Capital, Steamboat Ventures and Northern Light Venture Capital also participated in the round, which...
China's Pactera agrees to $625m Blackstone-led take-private
Pactera Technology International has agreed to be taken private by a consortium led by The Blackstone Group that values the NASDAQ-listed Chinese tech outsourcing firm at approximately $625 million. Existing investor GGV Capital is also participating...
Fosun VC leads Series B round for Chinese animation producer
Fosun Venture Capital Investment, a VC arm of Fosun Group, has invested in a Series B round of funding for Beijing Dream Castle Culture, a Chinese animation producer. Existing backer GGV Capital also participated. Financial terms were not disclosed.
Sierra Ventures leads Series C round for China's Social Touch
Chinese social marketing services provider Social Touch has raised $10 million in Series C funding from a group of investors led by Sierra Ventures. Legend Capital and GGV Capital, which backed the company in its previous two rounds, also participated.
Online tourism: Ticket to ride
Online tourism is on the rise in emerging Asia and numerous venture-backed businesses are looking to hitch a ride on the consumer growth trend. The key is finding the right niche
Baidu, VC-backed travel website Qunar files for $125m IPO
Qunar, a Chinese travel website majority-owned by internet search giant Baidu, is looking to raise up to $125 million through an IPO in the US. GSR Ventures and GGV Capital still hold minority positions in the company but it is unclear whether they plan...
GGV invests in China LED producer's pre-IPO round
GGV Capital has made a pre-IPO investment in Sichuan Sunfor Light, a Chinese light emitting diode (LED) manufacturer. Terms of transaction were not disclosed.
Blackstone consortium reduces Pactera MBO offer
A consortium led by The Blackstone Group has made a definitive offer for Pactera Technology International that values the US-listed tech outsourcing firm at approximately $600 million. Existing investor GGV Capital is also participating in the bid alongside...
GGV, Orchid Asia invest in China’s Beauty Plus
GGV Capital and investment group Orchid China have jointly participated in a Series A round of funding for a Shanghai-based cosmetics retailer Beauty Plus.The financial terms were not disclosed.
Reebonz receives $39m from MediaCorp, VCs
Southeast Asia-focused online retailer Reebonz has received a S$50 million ($39 million) round of funding led by Singapore multimedia group MediaCorp. Existing investors Vertex Ventures, GGV Capital, Intel Capital and Matrix Partners China also participated.
China travel site Qunar raises new round – report
Chinese online travel bookings portal Qunar has reportedly received $57 million from majority owner Baidu, new investor Hillhouse Capital and existing backer GGV Capital.
China vacation homes rental start-up gets Series B funding - Update
Tujia.com, China’s first online vacation homes rental service, has secured a Series B round of financing led by GGV Capital. Lightspeed China Partners, CDH Investments, Qiming Venture Partners, CBC Capital also participated alongside strategic investors...
VC-backed China tech firm YY jumps 7% on NASDAQ debut
Shares in venture capital-backed social networking platform YY climbed 7.7% on their NASDAQ trading debut after the company completed the first IPO by a Chinese firm in the US in seven months.
GGV raises $625m for Sino-US fund IV
Following its survey of the terms and conditions employed by China-focused venture capital funds, law firm Cooley revealed that more or less every early and mid-stage VC fund it had seen charged a management fee of 2.5%.
GGV reaches final close at $625m on fourth fund
GGV has reached a final close on its fourth fund at $625 million. The US- and China-focused venture capital firm, formerly known as Granite Global Ventures, has added RMB650 million ($105 million) to the $520 million already raised from US investors.
Tudou raises $174m in NASDAQ IPO
Venture capital-backed Chinese video site Tudou has raised $174 million through its NASDAQ IPO, surpassing the $100-150 million target it set earlier this year.
Baidu takes off with Qunar
The ample potential of China's online travel industry was reiterated last week when internet search giant Baidu agreed to pay $306 million for majority ownership of venture capital-backed booking site Qunar. It follows the likes of Alibaba and Tencent...