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News and Information Article
GGV III Doubles Total Capital Under Management, Driven by Strong
Performance of Expansion-Stage Companies in U.S. and China
MENLO PARK, Calif., Oct. 16 // -- Granite Global Ventures
(GGV), a leader in expansion-stage venture capital investments in the U.S.
and China, announced today the closing of its $400 million Granite Global
Ventures III fund. GGV III was substantially oversubscribed and doubled its
capital under management, bringing the total to $800 million.
Granite Global Ventures third fund will continue to focus on lead
investor positions with expansion-stage companies in the U.S. and China.
The partnership plans to invest the fund primarily in technology-based
companies, including software, new media, computing, networking, and
services, as well as emerging industry sectors in Asia. The investment
strategy for GGV III builds on Granite Global Ventures success in
achieving significant growth and successful exits for its large,
diversified portfolio of expansion-stage companies in the U.S. and Asia.
The total market value of exits in the six years since GGVs formation now
exceeds $6 billion.
GGV III has attracted a premier group of university endowments, pension
funds, foundations, and major financial institutions. The newest fund
includes firms based in the U.S. and around the globe.
"The strong response to GGV III validates the success of our expansion-
stage investment strategy and the strength of our investment team in the
U.S. and China," said Hany Nada, managing director and co-founder of
Granite Global Ventures. "Through the endorsement of preeminent,
internationally recognized institutional investors on this new fund, we are
well positioned to continue building a diversified portfolio of innovative
companies that will build long- term value for our investors. At $400
million, our new fund enables us to continue making small- to medium-sized
initial investments, with capacity to provide substantially greater capital
in follow-on rounds."
About Granite Global Ventures
Granite Global Ventures is a leader in expansion-stage venture capital
investments in the United States and Asia, combining global vision with
local insight. GGVs highly diverse team manages over $800 million from its
offices in Silicon Valley, Shanghai, and Singapore. The firm invests across
a range of sectors: software, new media, computing, networking, services
and healthcare, as well as emerging industry segments in Asia. GGV has
provided capital and helped accelerate international business development
for its worldwide portfolio of high-growth companies, particularly in the
U.S. and China. GGVs portfolio includes Alibaba.com (combined with
Yahoo!), 2Wire, AAC Acoustics (HKSE: 2018), and Sirna Therapeutics (Nasdaq:
RNAI). Recent exits include Qpass (acquired by Amdocs), Xfire (acquired by
Viacom), P-Cube (acquired by Cisco), and Netscaler (acquired by Citrix).
For more information, please visit http://www.ggvc.com .
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