📶 GGV splits

Cross-border investing in 2024, why larger funds are splitting up operations, plus the results of our latest VC comp survey

April 02, 2024 • Estimated Reading Time: 7 minutes

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We shared our latest VC comp survey results last week and got tons of good feedback.

The best thing we heard? 

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TL;DR:

NEWS
A tale of two brands 🖖

After 24 years of bridging the tech worlds of the U.S. and China, GGV Capital is officially no more.

In its place, two fresh entities emerge: Granite Asia and Notable Capital. This strategic divide was orchestrated by the firm's leaders in the wake of escalating U.S.-China tensions, a saga reminiscent of Sequoia Capital's similar decision last year.

Why it matters: 

The split underscores a growing trend among venture capital firms to adapt to the complex geopolitical and regulatory landscapes affecting global investments.

For GGV, a firm with deep roots in both the U.S. and Asia, rebranding into two distinct entities allows each to tailor its approach to the unique challenges and opportunities in their respective markets.

Granite Asia, led by Singaporean powerhouses Jenny Lee and Jixun Foo, will double down on APAC's dynamic startup ecosystem. Meanwhile, Notable Capital, staying true to its Silicon Valley origins, will continue its pursuit of innovation in the U.S., Europe, and Latin America.

What happens next: 

The separation of GGV Capital is reflective of a broader shift within the venture capital industry, as firms seek to reconcile the demands of investing in a politically polarized world.

We’ve now seen the same story at other notable firms like Sequoia, and we expect to see more to follow.

For the better part of the last 40 years, venture capital has operated under the idea that open borders and globalization are good for business. That idea, however, requires buy-in from all sides, and if one country decides to block out innovation from other countries, all bets are off.

Venture capital firms invest downstream of government policies, and as

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MEMES

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P.S. Here are the results from our poll question in last week’s piece:

Are we in an AI bubble?

🟩🟩🟩🟩🟩🟩 Yes - absolutely ✅ (34)

🟨🟨🟨⬜️⬜️⬜️ No - not a chance ❌ (22)

56 Votes

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