MENLO PARK, Calif. and SHANGHAI, China, May 19 /PRNewswire/ -- Granite Global Ventures today announced that it has been renamed GGV Capital(TM). A leader in expansion-stage venture capital investments in the U.S. and China, GGV Capital's new brand name reflects both the investment capital and the capital of experience and expertise that the firm brings to portfolio companies.

The GGV Capital team will continue its strategy of investing globally and focusing on the expansion-stage innovation that has delivered strong results for its partners. In just eight years since the firm's founding, this strategy has resulted in successful exits at valuations totaling $33 billion.

GGV Capital's expansion-stage investment success laid the foundation for the growth of the GGV III fund to $600 million, which was announced in March 2008. The increase from the $400 million raised in October 2006 brings GGV Capital's total capital under management to more than $1 billion.

About GGV Capital

GGV Capital (formerly Granite Global Ventures) is a leader in expansion-stage venture capital investments in the United States and Asia. Focused on driving expansion-stage innovation worldwide, GGV Capital's highly diverse team manages over $1 billion from its offices in Silicon Valley, Shanghai, and Singapore. The firm invests across a range of sectors in information technology, services and healthcare, as well as the consumer growth sector in China. GGV Capital has provided capital and helped accelerate international expansion for its worldwide portfolio of high-growth companies, particularly in the U.S. and China. GGV Capital's portfolio includes Alibaba (HKSE: 1688), athenahealth (NASDAQ:ATHN), Boston-Power, BCD Semiconductor, Endeca, hiSoft, QuinStreet, SuccessFactors (NASDAQ:SFSF), and WildTangent. Recent exits include AAC Acoustics (HKSE: 2018), Netli (acquired by Akamai), Sirna Therapeutics (acquired by Merck), Qpass (acquired by Amdocs), XenoPort (NASDAQ:XNPT), and Xfire (acquired by Viacom). The total market value of GGV Capital's exits since the firm's formation in 2000 exceeds $33 billion. For more information, please visit http://www.ggvc.com.

     Further Information

     GGV Capital - U.S.                  GGV Capital - China
     Stephen Hyndman                     Jenny Lee
     +1 650 475 2150                     +86 21 6161 1750
     shyndman@ggvc.com                   jlee@ggvc.com

     Press/Analyst Inquiries

     Kinetic.PR for GGV Capital U.S.     Lewis PR for GGV Capital China
     Rebecca Hurst                       Sandy Wu
     +1 650 679 9282                     +86 21 6103 1204
     rebecca@kineticprllc.com            sandyw@lewispr.com

Source: GGV Capital (formerly Granite Global Ventures)