Venture capital firm GGV Capital Asia recently rebranded as Granite Asia after splitting from its U.S. counterpart, with the aim of focusing on growing its investment platform in the region. Managed by veteran investors Jenny Lee and Jixun Foo, who are well-respected in the venture capital industry, Granite Asia plans to not only manage existing tech startup investments across China, India, and Southeast Asia but also venture into new asset classes such as private equity and debt to meet the changing needs of businesses and investors. With assets under management totaling $5 billion, the firm is headquartered in Singapore and is poised for future success.
Following the completion of the separation of its Asia and U.S. operations, Granite Asia, formerly known as Granite Global Ventures, is ready to forge its path as an independent entity. Jixun Foo, senior managing partner of Granite Asia, expressed excitement about building upon the firm’s strong foundation for future success. With Foo’s expertise in early investments in companies like Grab and Xpeng Motors, he leads the company’s investment strategy and portfolio management. Additionally, GGV Capital’s founding partner, Thomas Ng, along with industry experts Teh Kok Peng and Teo Ming Kian, are joining Granite Asia as advisors, bringing valuable insights and experience to the firm.
Acknowledging the major macroeconomic and structural shifts in recent years, Teh Kok Peng, chairman of Granite Asia’s advisory council, highlighted the need for adaptability and industry knowledge in financial institutions. With Jenny Lee, a prominent figure in the venture capital world and early investor in various successful companies, joining as senior managing partner, Granite Asia is poised to make a significant contribution to the growth of private investments in the region. Lee, known for her consistent recognition in Forbes’ list of top venture capitalists, emphasized the complex and exciting landscape for investments, expressing her commitment to creating mutually beneficial opportunities for investors, businesses, and the region as a whole.
The rebranding and restructuring of Granite Asia comes amid heightened geopolitical tensions between the United States and China, reflecting a broader trend in the venture capital industry. By focusing on its operations in Asia and leveraging the expertise of its seasoned investors, Granite Asia is well-positioned to navigate the evolving investment landscape in the region. With a track record of successful investments and a commitment to fostering growth and innovation, Granite Asia is set to play a significant role in shaping the future of private investments in Asia. As the firm continues to evolve and adapt to changing market conditions, its reputation and expertise are expected to further solidify its position as a leading venture capital firm in the region.
