GGV Capital stopped operating as a shared brand for its U.S. and Asia partnerships on March 29, 2024. The Asia partnership became Granite Asia, while the U.S. partnership became Notable Capital. The change created two separate firms with distinct investment regions; it did not mean every GGV-related fund or activity ended.
What happened to GGV Capital?
GGV Capital’s current website says its U.S. and Asia partnerships separated into distinct firms and brands effective March 29, 2024. The Asia partnership adopted the name Granite Asia, and the U.S. partnership became Notable Capital. GGV Capital’s website identifies the successor firms and their stated investment geographies.
The split followed an announcement in fall 2023 that GGV would separate its U.S. and Asia operations. TechCrunch’s March 31, 2024 report placed the change amid U.S.-China tensions, but said GGV did not cite those tensions as the explicit reason. Its source described the separately operating teams as wanting new brands.
How the successor firms differ
| Comparison | Granite Asia | Notable Capital |
|---|---|---|
| Base and offices | Headquartered in Singapore. | Based in Silicon Valley, with offices in San Francisco and New York. |
| Stated investment regions | Southeast Asia, Japan, China, India, and Australia. | United States, Israel, Europe, and Latin America. |
| Leadership identified in the sources | Jenny Lee and Jixun Foo. | Contemporaneous reporting identified Hans Tung, Jeff Richards, Glenn Solomon, and Oren Yunger with the team. GGV’s current site does not list Notable Capital’s leaders. |
| Structure and stated plans | Its March 2024 announcement said the firm planned to expand into other asset classes and APAC markets while continuing to manage its existing portfolio in Southeast Asia, China, and India. That was a stated ambition, not confirmation that the expansion had been completed. | The reviewed sources describe the firm’s regions but do not establish a comparable asset-class expansion plan. |
Granite Asia’s name looks back to the firm’s earlier identity: the company says GGV was founded as Granite Global Ventures in 2000 and that “Granite” honors that original name. Granite Asia’s March 30, 2024 announcement also says Lee and Foo continued to lead the Singapore-headquartered firm.
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The sources do not provide a common investment-stage comparison for the two firms, so their strategies should not be inferred from geography alone.
What the split meant for existing funds
The change was a separation of partnerships and brands, not the end of all GGV-related activity. TechCrunch reported that Eric Xu would continue overseeing the original firm’s independently operated yuan-denominated funds. That report does not fully describe those funds’ later structure.
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TechCrunch also reported historical asset figures after the division: about $5 billion managed collectively by Granite Asia and roughly $4.2 billion for Notable Capital. The latter estimate was based on GGV Capital’s assets under management at the time the split was announced. These are attributed, contemporaneous figures—not a current, audited comparison—and should not be treated as directly interchangeable with every other portfolio description.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the reported $5 billion figures describe
Granite Asia’s launch announcement described Jenny Lee and Jixun Foo as having a combined portfolio of US$5 billion. TechCrunch separately reported about $5 billion in assets under management for Granite Asia after the asset split. “Combined portfolio” and assets under management are different descriptions; neither figure establishes a current AUM total.
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The available reports do not give a dated, independently verified current AUM comparison for Granite Asia and Notable Capital. A reader comparing the firms’ present size should not assume these 2024 figures are still current.
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