GGV Capital’s Asia unit rebrands as Granite Asia; to expand beyond venture capital

GRANITE Global Ventures Capital’s (GGV Capital) Asia unit has been rebranded as Granite Asia, with plans to become “Asia’s leading multi-asset investment platform”.

Granite Asia will continue to be led by senior managing partners Jenny Lee and Foo Jixun, and will also still manage the existing portfolio in South-east Asia, China and India. There are plans to expand into other asset classes, such as private equity, and other markets in Asia-Pacific.

Said Foo: “Granite formed the bedrock of Granite Global Ventures. We’re thrilled to build upon our firm’s strong foundation for future success.”

The move comes after the spilt between GGV’s US and Asia operations in September 2023, amid increasing geopolitical tensions between China and the US. Other venture capital firms, such as Sequoia, are also splitting their operations geographically.

A new advisory council for Granite Asia has been set up, comprising GGV’s founding partner Thomas Ng, former GIC president for special investments Dr Teh Kok Peng, and chairman of Singapore’s National Science and Technology Board Teo Ming Kian.