Early Alibaba Backer GGV Raises $620M For Fifth Fund

TechCrunch

GGV  , the backers of U.S. and Chinese tech companies like Alibaba, Pandora, Qunar, Zendesk and Tudou, has raised $620 million for its fifth venture capital fund. GGV Capital V is just $5 million shy of the firm’s last fund, raised in 2012, and brings the firms total capital under management to more than $2.2 billion.

For background, GGV was founded in 2000 with a focus on investing across the U.S. and China. GGV’s portfolio companies includes Alibaba (which just filed for its hotly anticipated IPO), athenahealth, AAC Technologies, BlueKai, Buddy Media, Chukong Technologies, Domo, Endeca, Flipboard, GrabTaxi, HotelTonight, Houzz, Meilishuo, Nimble Storage, Pandora Media, Percolate, Qunar, SoundCloud, Square, SuccessFactors, Tujia, UCWeb, Wish, Youku-Tudou, YY, Zendesk, and 21Vianet.

GGV says it has 3 companies currently in IPO registration (Alibaba, Zendesk and Chukong), has backed companies with 16 IPOs (YY, 21Vianet, Qunar, and others) since 2010.

GGV plans to keep its…

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