GGV Capital raises $2.52bn

The Menlo Park-based venture capital firm has closed five venture capital funds.

Fund name: GGV Capital VIII, GGV Capital VIII Plus, GGV Discovery III, GGV Capital VIII Entrepreneurs Fund, GGV RMB Fund II
Fund size: $2.52 billion in total
Stage of fundraising: Final close

GGV Capital announced final close on five of its venture capital funds. The firm raised $2.52 billion in total, including $1.464 billion for GGV Capital VIII; $366 million for GGV Capital VIII Plus; $610 million for GGV Discovery III; $80 million for GGV Capital VIII Entrepreneurs Fund; and 3.4 billion yuan ($524.7 million; €433.8 million) for GGV RMB Fund II. The funds will invest in retail, business services, cutting-edge technology and cloud, social and internet services.