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August 21, 2012 06:02 pm GMT
GGV -- backers of tech giants like Alibaba, Buddy Media, Pandora, Square and Tudou -- is gearing up for another big rush of investment activity: today the firm is announcing the closing of a significant new fund, its fourth, totaling $625 million, which it will use for expansion-stage investments in tech companies in both the U.S. and China. There were hints of this fund coming a few days ago, when GGV filed SEC Form D documents raising$508.9 million and $10.8 million. Those are the U.S dollar amounts; an additional sum of 650 million in Chinese yuan takes the total fund up to $625 million.As with previous funds, GGV plans to keep its investments in the expansion stage, with rounds in the rage of $5 million to $25 million, covering a range of tech companies. It plans to split investments equally between China and the U.S. The last fund raised by GGV was for $610 million in 2007.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/cpBKxeLoh_c/
GGV Capital Closes New $625M Fund To Focus On China, U.S. Expansion Stage Investments
GGV -- backers of tech giants like Alibaba, Buddy Media, Pandora, Square and Tudou -- is gearing up for another big rush of investment activity: today the firm is announcing the closing of a significant new fund, its fourth, totaling $625 million, which it will use for expansion-stage investments in tech companies in both the U.S. and China. There were hints of this fund coming a few days ago, when GGV filed SEC Form D documents raising$508.9 million and $10.8 million. Those are the U.S dollar amounts; an additional sum of 650 million in Chinese yuan takes the total fund up to $625 million.As with previous funds, GGV plans to keep its investments in the expansion stage, with rounds in the rage of $5 million to $25 million, covering a range of tech companies. It plans to split investments equally between China and the U.S. The last fund raised by GGV was for $610 million in 2007.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/cpBKxeLoh_c/
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