GGV Capital is a 24-year-old multinational company that has served as a bridge between China and the United States. About six months after announcing a spinoff of its U.S. and Asia operations, the longtime venture capital investor at GGV Capital has identified two new brands.
Veteran investors Jenny Lee and Jixun Foo have just renamed their Singapore-based business GraniteAsia, which was first reported by Forbes. Meanwhile, Hans Tung, co-founder of the Bay Area-based company, announced on X yesterday that the US team is now renamed Notable Capital.
Last fall, GGV Capital announced that it was splitting up its team amid growing tensions between China and the United States, but the company never cited tensions in China-U.S. relations as an explicit driver of the move.
Last year, Sequoia Capital made a similar spin-off of its business as it grappled with geopolitical tensions. In the case of Sequoia, the US team retained the historic brand, while the Sequoia India and Southeast Asia teams were renamed PeakXVPartners, and the Sequoia China team was renamed HongShan (Sequoia).
A person familiar with the matter revealed that the reason for abandoning the GGV Capital brand was that since the two teams will operate separately in the future, they thought it was best to develop a new brand.
GraniteAsia will focus on startups in China, Japan, South Asia, Australia and Southeast Asia.
Notable Capital, which said it plans to continue investing in the U.S., Europe and Latin America, is currently led by investors who have been based out of its Menlo Park office for many years.
About 2.5 years ago, GGV Capital announced it had raised $2.5 billion for its new fund, marking its largest fund family ever. Since then, investors have split these assets under management with previously raised funds. GraniteAsia currently manages a total of US$5 billion in funds, and Notable Capital manages approximately US$4.2 billion based on GGV Capital’s assets under management when the split was announced.