GGV Capital, a venture firm celebrating its 20th anniversary, has recently secured $2.52 billion in new capital commitments across four newly established funds, as announced today.

The majority of these funds will be allocated through the firm’s eighth main fund, which boasts $1.5 billion designated for investment in startups at various stages of development. Additionally, a $366 million opportunity fund, known as GGV Capital VIII Plus, was finalized to provide further investment in promising companies. An $80 million fund was also created to allow founders within the GGV network to co-invest, and a “discovery” fund closed with $610 million, focused on supporting founders globally during the initial phases of their startup journeys.

GGV Capital has also recently finalized its second RMB fund, raising approximately RMB 3.4 billion (equivalent to $525 million), following the closure of its first RMB fund in 2018, which totaled $236 million.

These combined capital resources increase the firm’s total assets under management to $9.2 billion, spread across 17 different funds.

Considering the current venture capital landscape, GGV’s recent fundraising success is understandable. The asset class continues to attract significant investment, driven in part by low interest rates – as institutions seek strong investment returns – and the overall expansion of the private market over the past decade. Venture capital firms have benefited from the extended periods companies remain private, capturing a substantial portion of their growth, as well as significant gains when these companies eventually become publicly traded.

Successfully identifying and investing in high-potential companies is crucial, and GGV Capital demonstrates a strong ability to make impactful investments in noteworthy startups.

While holding less than 5% equity in some portfolio companies, as indicated in their S-1 filings (including Affirm, Airbnb, Peloton, Slack, Square, and Zendesk), GGV has established substantial stakes in others, such as Opendoor (5%), Poshmark (7.9%), and Wish (6.2%).

GGV Capital, which also invests in companies located in Latin America, India, Southeast Asia, and Israel, holds investments in numerous highly valued, still-private companies. These include Hashicorp, an infrastructure automation company that raised funds at a $5.1 billion valuation last year; Zuoyeban, an online education platform reportedly valued at $6.5 billion in December; and StockX, an online resale marketplace assigned a $2.8 billion valuation in December.

This announcement reinforces the ongoing trend of substantial funds continuing to grow at an accelerated pace, with no apparent slowdown in sight.

Just recently, TCV, a 25-year-old investment firm, announced a record $4 billion fund. Late last year, Andreessen Horowitz completed a pair of funds totaling $4.5 billion, and Insight Partners also closed its largest fund to date, a $9.5 billion growth equity vehicle.

Benchmark Capital stands out as one of the few leading venture firms consistently deviating from this trend. Last year, it quietly closed a $425 million fund, maintaining a similar size to its previous nine funds since its founding in 1995.