GGV Capital has raised close to RMB 1.5 billion in its first RMB fund, the venture capital firm announced in a press release. The new RMB fund will focus on early stage and growth stage startups in areas including internet services, consumption upgrade, cutting edge technology, smart hardware, corporate services, and digital services.

Founded in 2000, the venture capital firm has invested in over 200 companies in the US and China including Alibaba, Airbnb, Xiaomi, Didi Chuxing, and Square. GGV operates in both China and the US with offices in Silicon Valley, Shanghai, and Beijing. GGV was one of the first venture capital firms in Silicon Valley to invest in Chinese companies. The firm currently manages 8 USD funds and one RMB fund. With the new RMB fund, the company manages over USD 4 billion worth of assets.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.