In the News: GGV Capital Splits Asia Partnership From Rest of Business; Shanghai Recognizes Bitcoin; and China Eases Capital Controls

September 27, 2023 | BY

Brian Chan

GGV capital is breaking up its business into two, separating its Asia partnership; A Shanghai court has recognized Bitcoin as a currency; and China eases capital controls in an effort to attract foreign investment.

Promulgated: 2023-09-21

Credit: metamorworks/Adobe Stock

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GGV Capital Breaks up Its Business, Separates Asia From Rest of Partnership

U.S. venture capital firm GGV Capital plans to split its business into two, with one focused on Asia and the other on the U.S.—a move likely resulting from political pressure on American companies to limit investments in Chinese technology, according to a Reuters report. The U.S. partnership will invest primarily in North America, Latin America, Israel, Europe and India. The Asia partnership, headquartered in Singapore, will focus on China and the rest of Asia. The split will be completed by early 2024. GGV's latest decision followed moves by its peers Sequoia Capital and BlueRun Ventures, who also split their Chinese business.

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