Granite Global Ventures Announces $225 Million Venture Fund
January 24, 2005 – Menlo Park, CA - Granite Global Ventures, an expansion-stage venture firm, announced today the closing of its $225 million Granite Global Ventures II fund, exceeding its $200 million target. The GGV II fund received strong support from a premier group of leading university endowments, pension funds, and returning limited partners.
Granite Global Ventures’ second fund will continue to focus on its core strategy of investing in expansion-stage information technology and healthcare companies, and capitalizing on business development opportunities in Asia. From the formation of its first fund, Granite Global Ventures established local operations in the region and leveraged its local networks to provide access and post-investment advice to assist US-based companies in extending their presence into the Asian market. In addition, that knowledge base has resulted in a number of direct investments in Chinese expansion-stage companies.
“As investors in Granite Global Ventures’ first fund, we were very impressed with the team’s market acumen and demonstrated expertise in growing expansion-stage companies,” said Catherine Crockett general partner, Grove Street Advisors. “We look forward to working with Granite Global Ventures again through this latest fund. With the partners’ proven success, diverse backgrounds, and solid partnerships, GGV is well positioned to take advantage of emerging market opportunities.”
“We are delighted by the strong response to GGV II” said Scott Bonham, managing director and a co-founder of Granite Global Ventures. “We appreciate the strategic value and commitment provided by the investors in our first fund and are gratified by the top-tier institutional investors who joined our team for this new partnership.”
About Granite Global Ventures
Granite Global Ventures is an expansion-stage venture capital firm focused on information technology and healthcare companies. The firm was founded in 2000 by its four managing directors: Scott Bonham, Joel Kellman, Hany Nada, and Thomas Ng, in association with Venrock Associates. Granite Global Ventures brings a depth of experience in investments, cross-border business development activities, mergers and acquisitions, and IPO transactions. With $390 million under management, its investments include 2Wire, Alibaba, Athena Health, Endeca, Hurray Solutions, Intarcia, NetScaler, Vocera, and XenoPort. Past investments include, Kintana (acquired by Mercury Interactive), Oculex (acquired by Allergan, Inc.) and P-Cube (acquired by Cisco Systems, Inc.). Granite Global Ventures www.ggvc.com has offices in Menlo Park, CA, Shanghai and Singapore.
CONTACT INFORMATION:
Granite Global Ventures
Scott Bonham
650-475-2150