Corrected: GGV Capital not actively raising yuan fund
January 20, 2017
Corrected 1/23: GGV Capital is not actively raising a yuan fund, according to a firm spokesperson, who noted that a recent discussion with Reuters led to an erroneous report.
Menlo Park, CA | Venture Capital
GGV Capital is reportedly looking to raise its first fund made up of Chinese currency. The firm, which has headquarters in both the US and China, will use the yuan fund to make it easier to invest in sectors (such as the internet) that are restricted by the Chinese government, according to Reuters. GGV is a backer of several big-name companies, including ecommerce conglomerate Alibaba and ridesharing giant Didi Chuxing.