US and China-based venture capital firm GGV Capital has hired David Zhu as a venture partner based in Singapore, according to a GGV statement.
Zhu previously worked with GGV on projects including Social Touch, a social media management platform, which was formed by GGV and Buddy Media, and E Dian Bao (EDB) which supports 2,000 internet retailers on Taobao, Alibaba’s online shopping platform.
From 2002-2007, Zhu was chief operating officer of Baidu, China’s popular search engine.
“As the US and China tech economies continue to convergence, David’s experience will be invaluable in helping our portfolio companies navigate these important changes,” said Jixun Foo, managing director of GGV, in the statement.
Last month, GGV Capital launched Fund V with a target of $500 million and a hardcap of $600 million, Private Equity International reported earlier.
Zhu is GGV’s second hire in six months. Late last year, Hans Tung, a partner at Qiming Venture Partners who focused on China investments, left after six years and joined GGV as a managing director to focus on internet, mobile, and gaming industry investments, PEI reported earlier. Tung was an early investor in Chinese smartphone maker Xiaomi Tech.
GGV Capital, with offices in Menlo Park, California, Shanghai and Singapore, provides expansion capital to companies in both China and the US. It manages $1.6 billion in capital across four funds.