TLDR: GGV Capital Asia Rebrands As Granite Asia After U.S. Split
Key Points:
- GGV Capital Asia rebranded as Granite Asia after splitting from its U.S. counterpart.
- Granite Asia, with assets under management of $5 billion, will focus on growing its investment platform in the region.
In a recent move, GGV Capital Asia has rebranded as Granite Asia after splitting from its U.S. counterpart. The venture capital firm, based in Singapore, aims to focus on expanding its investment platform in Asia. Granite Asia, now managed by veteran investors Jenny Lee and Jixun Foo, plans to venture into new asset classes such as private equity and debt to meet the evolving needs of businesses and investors.
With assets under management of $5 billion, Granite Asia will continue managing existing tech startup investments across China, India, and Southeast Asia. The firm has completed the separation of its Asia and U.S. operations, following a similar move by Sequoia Capital last year, amidst heightened geopolitical tensions between the U.S. and China.
Jixun Foo, a senior managing partner at Granite Asia, expressed enthusiasm about the firm’s future success, building upon its strong foundation. Foo, known for his early investments in companies like Grab and Xpeng Motors, leads the company’s investment strategy and portfolio management. The firm has also welcomed advisors such as Thomas Ng, Teh Kok Peng, and Teo Ming Kian to further support its growth.
Granite Asia aims to contribute to the growth of private investments in the region, given the recent macroeconomic shifts. Jenny Lee, another senior managing partner, highlighted the complexities and excitement of the current investment landscape, emphasizing the firm’s commitment to creating mutual success for investors, businesses, and the region as a whole.
