The four funds are Fund VIII (for many investments), Fund VIII Plus, Discovery III (for early-stage startups) and Entrepreneurs VIII.
Venture agency GGV Capital has raised $2.52 billion (about Rs 18,418.7 crore) in new capital by way of four new funds. The firm’s eighth flagship fund, which has $1.5 billion to plug in startups in any respect ranges, will make investments a lot of the capital. The funds are named Fund VIII, Fund VIII Plus, Discovery III and Entrepreneurs VIII, it introduced through TechCrunch.
It additionally closed on $366 million for a possibility fund to double down on breakout acquisitions (GGV Capital VIII Plus); $80 million for a fund that encourages the entrepreneurs in its community to take a position alongside GGV; and a $610 million discovery fund that seeks to fund founders world wide on the earliest stage of the expansion of their startups.
We sit up for backing wonderful founders and their imaginative and prescient to construct a greater world.
Announcing Fund VIII, Fund VIII Plus, Discovery III and Entrepreneurs VIII.https://t.co/KhNgOU66tc
— GGV Capital (@GGVCapital) January 29, 2021
GGV is sort of 20 years outdated and has invested within the United States, China, India, Southeast Asia, Israel, Canada, Europe and Latin America. It has invested in 5 firms in India that are Khatabook (a digital ledger), Rupeek (a monetary companies firm), Turtlemint (an internet insurance coverage platform), Udaan (A enterprise-to-enterprise commerce platform) and Vedantu (an internet tutoring platform). It has additionally invested within the likes of Alibaba, Tiktok and extra.
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