Granite Asia is an Asian venture capital firm that is headquartered in Singapore. It was formed in 2024 after GGV Capital split up its Asia and U.S. operations.
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.[1][2][3]
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.