With over $9 billion in property beneath administration, GGV Capital is certainly one of enterprise capital’s largest and most distinguished gamers. The 22-year-old agency invests in startups from seed to progress phases throughout a wide range of sectors, together with client, web, enterprise/cloud and fintech.
This yr was one of the tough the startup world has seen in a while, because it pressured traders and founders alike to adapt to a drastically totally different market than they loved in 2021.
To higher perceive GGV’s place throughout a difficult enterprise atmosphere, I sat down with managing companion Hans Tung to get his ideas on the state of investing at this time, why he believes that there are “many extra giant fintechs but to be constructed” and that elevating a down spherical “shouldn’t be the top of the world.”
“It’s not the top of the world if you happen to elevate a down spherical. The one factor that issues is that you find yourself having a superb final result.” GGV’s Hans Tung
Principal Robin Li additionally joined the dialog, sharing why she thinks embedded fintech goes to play a vital function in monetary providers within the coming years.
An investor for over 20 years, Tung has backed the likes of publicly traded BNPL large Affirm, actual property fintech Divvy Houses, IDwall, Karat, Rupeek, Mexico’s Stori and Turtlemint. Having seen a couple of cycles, Tung is probably much less spooked by the present downturn than another VCs. Li has led Karat Monetary and Novo.
[Editor’s note: This interview has been edited for clarity and brevity.]
GGV’s Robin Li and Hans Tung. Picture Credit: GGV Capital
How has this yr been for you as an lively fintech investor?
Tung: We don’t attempt to time the market. So final yr, we didn’t over-invest. There was loads of inside push away from maintaining tempo with others. I believe it labored out effectively since we’ve loads of dry powder left and extra time to be deliberate this yr. We even have time to double down on our present portfolio as effectively. That stated, we’ve most likely slowed our tempo of investing in our international portfolio by about 50% this yr versus final yr.
