Udaan and Vedantu backer GGV Capital raises $2.5 billion across four latest funds
The four funds are Fund VIII (for most investments), Fund VIII Plus, Discovery III (for early-stage startups) and Entrepreneurs VIII.
Venture firm GGV Capital has raised $2.52 billion (about Rs 18,418.7 crore) in new capital through four new funds. The company's eighth flagship fund, which has $1.5 billion to plug in startups at all levels, will invest most of the capital. The funds are named Fund VIII, Fund VIII Plus, Discovery III and Entrepreneurs VIII, it announced via TechCrunch.
It also closed on $366 million for an opportunity fund to double down on breakout acquisitions (GGV Capital VIII Plus); $80 million for a fund that encourages the entrepreneurs in its network to invest alongside GGV; and a $610 million discovery fund that seeks to fund founders around the world at the earliest stage of the growth of their startups.
We look forward to backing amazing founders and their vision to build a better world.
Announcing Fund VIII, Fund VIII Plus, Discovery III and Entrepreneurs VIII.https://t.co/KhNgOU66tc
— GGV Capital (@GGVCapital) January 29, 2021
GGV is nearly 20 years old and has invested in the United States, China, India, Southeast Asia, Israel, Canada, Europe and Latin America. It has invested in five companies in India which are Khatabook (a digital ledger), Rupeek (a financial services company), Turtlemint (an online insurance platform), Udaan (A business-to-business trade platform) and Vedantu (an online tutoring platform). It has also invested in the likes of Alibaba, Tiktok and more.
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