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GGV Capital, a 23-year-old venture capital, known for its investments in companies like ByteDance, Xiaomi, and Alibaba, is preparing for a change.

  • Motive? The escalating geopolitical tension between the world’s primary superpowers prompted GGV Capital’s division. The restructuring is scheduled to conclude by Q1 2024.
  • The American Eagle: Spearheaded by Glenn Solomon, Hans Tung, Jeff Richards, and Oren Yunger, this branch will primarily focus on investments in North America, Latin America, Israel, Europe, and India/U.S. cross-border ventures.
  • The Asian Dragon: Under the stewardship of dynamic leaders Jenny and Jixun Foo, this offshoot will concentrate on China, Southeast Asia, and South Asia, with its headquarters in the vibrant city of Singapore.
  • Why Now? GGV Capital’s move mirrors recent changes at Sequoia, which also announced a similar bifurcation. These decisions follow a U.S. congressional committee’s probe into funding Chinese tech firms specializing in sectors like semiconductors, AI, and quantum computing.
  • What Next? GGV’s RMB funds will persist under the Chinese brand, Jiyuan Capital, under the leadership of the incomparable Eric Xu. This development comes amidst President Biden’s executive order restricting U.S. investments in critical sectors like AI, semiconductors, and quantum computing, aimed at curtailing China’s military pursuits.

Similar to GGV and Sequoia, GSR Ventures, Qualcomm Ventures, and Walden International are also under investigation by the congressional panel. Buckle up, everyone! The investment landscape is undergoing a significant overhaul!

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