· Venture Capital Tracker · investment-strategies · 1 min read
GGV Capital Successor Granite Asia Raises $350M Credit Fund
Granite Asia, the Asia spin-out of GGV Capital, secured $350M+ in the first close of its $500M Libra Hybrid private credit fund and led Kuku’s $85M Series C.
Granite Asia, the Asia spin-out of GGV Capital, secured $350M+ in the first close of its $500M Libra Hybrid private credit fund and led Kuku’s $85M Series C.
Key facts
- Firm: Granite Asia (formerly GGV Capital’s Asia business)
- Libra Hybrid: $350M+ first close; $500M target (private credit)
- Anchor LPs: Temasek, Khazanah Nasional, Indonesia Investment Authority
- Kuku: Led $85M Series C (Oct 2025), India vernacular content
- Platform AUM: $6B+ across venture, growth, and credit
Why this matters
The private-credit push shows how one GGV Capital successor is expanding beyond equity into non-dilutive capital for Asian tech, leveraging a 25-year network.
Sources
- Granite Asia Libra Hybrid fund (AsiaTechDaily): https://asiatechdaily.com/why-temasek-khazanah-and-ina-are-backing-granite-asias-us500m-private-credit-bet-on-asia/
- Granite Asia leads Kuku $85M Series C (Sugermint): https://sugermint.com/granite-asia-leads-kukus-us85-million-series-c-round/
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