Granite Asia
| Granite Asia | |
|---|---|
 | |
| Formerly | GGV Capital Asia |
| Type | Private |
| Industry | Venture capital, growth equity, private credit |
| Predecessor | GGV Capital |
| Founded | March 2024 |
| Headquarters | Singapore |
| Key people |
|
| AUM | US$8.5 billion (2025) |
| Website | www |
Granite Asia is an Asian venture capital firm that is headquartered in Singapore. It invests with a geographical focus on Southeast Asia, China, Japan, South Asia and Australia. It was formed in 2024 after GGV Capital split up its Asia and U.S. operations into two separate successor firms. The firm is led by Jenny Lee and Jixun Foo. As of 2026, Granite Asia manages approximately US$10 billion in assets under management.
Background
In July 2023, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party initiated an investigation into GGV Capital and other venture-capital firms' investments in China. In September 2023, GGV Capital announced it would split its business into two with one focused on Asia and the other focused on the U.S. The Asian business would be headquartered in Singapore and would focus on China, Southeast Asia and South Asia. GGV's yuan-denominated funds would continue to be managed independently under its Chinese brand Jiyuan Capital. This option allowed investors who still felt confident about China to continue investing while those who didn't have the option of choosing the U.S. focused business.
In March 2024, GGV Capital officially split into two firms, Granite Asia which would focus on Asian investments and Notable Capital which would focus on U.S. investments. The decision to abandon the GGV brand was that because both teams were operating separately going forward and felt it was best to develop new brands. The legacy GGV Capital funds focused on Asia would continue operating under the two firms. Granite Asia stated it would establish a private credit business in the year as well as expand into other asset classes and markets in Asia. It would also explore a hybrid method of funding that was a mixture of equity and debt.
In November 2024, Granite Asia received a mandate from the Indonesia Investment Authority to invest $1.2 billion in domestic technology companies.
In 2025, Granite Asia launched a private credit strategy, Libra Hybrid Capital, focused on opportunities in Asia.
References
- ↑ "Granite Asia raises $350 mln for fund backed by Temasek, Khazanah, INA". Reuters. 9 December 2025. Retrieved 23 June 2026.
- ↑ "Singapore's Granite Asia announces $250M first anchor close of private credit strategy". TechNode Global. 8 May 2025. Retrieved 14 June 2026.
- 1 2 3 Loizos, Connie (1 April 2024). "GGV Capital is no more, as partners announce two separate brands". TechCrunch. Archived from the original on 8 June 2024. Retrieved 8 June 2024.
- ↑ "DBS Enters Investment Partnership With Granite Asia". WealthBriefing. February 2026. Retrieved 14 June 2026.
- ↑ Wu, Kane (22 September 2023). "US venture firm GGV Capital to separate China business". Reuters. Archived from the original on 11 February 2024. Retrieved 8 June 2024.
- 1 2 Chen, Lulu (30 March 2024). "GGV Asia Mulls Venture Into Private Debt After Split From US". Bloomberg News.
- ↑ Cher, Benjamin (11 April 2024). "Post-rebranding, Granite Asia's veteran partners dig in for the long haul". The Business Times. Archived from the original on 8 June 2024. Retrieved 8 June 2024.
- ↑ Lynn, Alex (27 January 2025). "How Granite Asia is positioning itself for life after GGV Capital". Private Equity International. Retrieved 12 April 2025.
- ↑ "Granite Asia exceeds US$500 million target for Pan-Asia private credit fund". The Business Times. 25 August 2026. Retrieved 31 August 2026.
