The global venture capital (VC) landscape is shifting. In September 2023, GGV Capital announced it would separate its China operations. By March 2024, the move was complete. Two firms emerged: one focused on the United States, and Granite Asia, headquartered in Singapore.
This Singapore GGV Split Aftermath is more than just a restructuring. It marks a major turning point for venture funding in Asia. With $5 billion in assets under management (AUM), Granite Asia is now one of the most influential VC players in the region.
Singapore GGV Split Aftermath: Why the Split Matters
Jenny Lee, Granite Asia senior managing partner
The split reflects larger geopolitical pressures shaping global investment. Similar to Sequoia Capital’s reorganization, the GGV separation highlights the need for localized strategies in an uncertain environment.
For Singapore, this is an opportunity. The city-state’s role as a financial hub is strengthened as Granite Asia places its headquarters there. From this base, it can target China, Southeast Asia, South Asia, and the wider Asia-Pacific market.
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Granite Asia’s Track Record
Granite Asia inherits GGV’s long history of successful investments. It has already:
- Backed 48 companies now valued above $1 billion.
- Supported 29 IPOs, showcasing its ability to drive startups toward exits.
- Invested across multiple sectors, aligning with themes like consumer growth, enterprise workflow, sustainability, health innovation, and energy transition.
These numbers underline the scale and influence Granite Asia brings to the table.
Singapore as a VC Hub
One of the most striking examples of Granite Asia’s new direction came in 2025. The firm led a $60 million Series A funding round for AI startup Centific. This move signals a clear focus on emerging technologies like artificial intelligence and deep tech, where Singapore is positioning itself as a leader.
Granite Asia’s decision to base itself in Singapore amplifies the city’s role in the global VC ecosystem. It shows how Singapore’s stability, regulation, and access to regional markets make it a natural hub for cross-border venture activity.
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Singapore GGV Split Aftermath: Expanding Into New Frontiers
Granite Asia is not stopping at traditional VC. It is expanding into private debt investments, diversifying the types of capital available to Asian startups. This broadening of activities increases its influence and creates more pathways for regional companies to access funding.
The firm also announced a strategic partnership to explore up to $1.2 billion in investments for Indonesia’s digital transformation. This bold step reflects a regional outlook, showing that Singapore’s VC momentum now directly supports broader Southeast Asian growth.
Reshaping VC Dynamics
The Singapore GGV Split Aftermath is reshaping VC dynamics in Asia. Granite Asia continues GGV’s legacy but is now more localized and flexible. Its five investment themes align with long-term structural shifts, from digital adoption to climate solutions.
For startups, this means more than money. Granite Asia brings expertise, networks, and credibility that help companies scale globally. For Singapore, it strengthens the nation’s role as a launchpad for innovation across Asia.
The Bigger Picture
The story of Granite Asia highlights how global VC firms are adapting to new realities. Geopolitics, technology shifts, and regional growth are all forcing firms to rethink strategies.
The Singapore GGV Split Aftermath shows how these global shifts can strengthen local ecosystems. With $5 billion AUM under Granite Asia, new investments in AI and digital transformation, and a proven track record of IPOs, Singapore is cementing its reputation as a global venture capital powerhouse.
