GGV Capital seeks $500m for new fund

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china chinese flagChina and US-focused venture firm GGV Capital has reportedly launched a new fund.

GGV is seeking $500m for Fund V, according to Private Equity International.

The new fund follows GGV’s fourth growth fund, which was closed with commitments of $625m in August 2012, exceeding its $600m initial target.

GGV is headquartered in Menlo Park with offices in Beijing, Shanghai and Singapore.

The firm makes investments of between $5m and $25m in consumer, healthcare, infrastructure, internet and software businesses.

GGV’s recent deals include investments in computer security business AlienVault and online holiday home rental service Tujia.

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