GGV Capital, the virtually 20-12 months-outdated move-border mission firm, with places of work on both Sand Hill road and in Beijing and Shanghai, has brought some new, fascinating folks into its orbit: Jason Costa, who spent the last three years as a product manager at Pinterest and the 2 earlier years engaged on Twitter’s platform, has joined the outfit as an entrepreneur-in-residence; he’ll be working with the firm’s current portfolio firms and sourcing new ones, particularly in the areas of e-commerce, social media, and cell.
Denise Peng, who spent just about a dozen years with the chinese language on-line commute firm Qunar, including as its COO, has meanwhile joined the agency as a project partner. Qunar used to be a GGV portfolio company that went public, then merged ultimate 12 months with publicly traded rival Ctrip to type a $ 20 billion trip large in China. Peng will determine of the agency’s Beijing workplace.
GGV is also formally announcing that seed-stage investor Semil Shah is a challenge accomplice with the agency, although the appointment was once a while a year ago. Shah manages his personal nascent firm, Haystack, and is at the moment investing his 0.33 fund, a $ eight.5 million fund. The agency was once the primary investor in Chariot, the San Francisco-based non-public bus carrier that was bought remaining week by means of Ford for undisclosed terms.
earlier this 12 months, GGV closed on $ 1.2 billion$ 1.2 billion in capital across 4 cash: a $ 675 million main fund; a $ 225 million “Plus” fund to again its most promising firms as they mature; a $ 250 million “Discovery” fund that will center of attention largely on seed-stage alternatives in China; and a side, $ 50 million “Entrepreneurs” fund that consists largely of company founders as LPs and as a way to invest pro rata across the cash. amongst its many bets is Didi, the China-based totally ride share massive.
[Disclosure: Shah is an advisor to StrictlyVC, a industry owned by using this editor.]