US and China-focused early stage investment firm GGV Capital is looking to raise more than $1.8bn in new capital through a string of fund vehicles.
GGV Capital VII has yet to register any capital, according to the latest US Securities and Exchange filing.
It is unclear through the document whether the $1.8 sum is a target or a hardcap.
In 2016, the firm pulled in a total of $1.2bn through the closing of a number of vehicles. GGV Capital VI, its flagship fund, and VI Plus received a combined $900m. A fund dedicated to the early stage opportunities in China, GGV Discovery I, received $250m. The remaining $50m was raised for GGV Capital VI Entrepreneurs Fund, which consisted largely of company founders as its LPs.
It is unclear whether the capital for GGV Capital VII will be divided into other smaller vehicles or how much will be deployed to each division. However, the filing does name a number of other vehicles operated by GGV that will have the power to manage the fees raised.
The listed vehicles include GGV Capital VII Plus, GGV Capital VII Entrepreneurs Fund and GGV Discovery II.
GGV looks to back entrepreneurs at seed and early stage with companies operating within the social and mobile commerce, internet of things, robotics, and SaaS/cloud sectors.
Earlier this year, GGV Capital co-led CashShield’s $20m Series B round alongside Temasek. Based in Singapore, CashShield helps enterprises detect and prevent online fraud. By combining artificial intelligence (A.I.) and Wall Street high-frequency trading techniques, it secures transactions and consumer accounts from cybercriminals, without the need for human intervention.
A few days later, GGV joined BitSight’s $60m Series B round. BitSight is a SaaS platform helping organisations manage information security risk. Its Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk.
In the FinTech space the firm recently led the $60m round of HR and payroll service provider Namely. Payroll teams can utilise its platform to automate deductions and simplify tax filings.
Other transactions in the sector this year include support to online real estate marketplace Opendoor’s $325m Series E, a contribution to the $64m Series C of e-commerce website developer BigCommerce and a commitment to fraud management company CashShield’s $20m round.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
