China-focused venture capital firm Granite Global Ventures and Shanghai's SIG Capital are headed to the altar together.
Granite is welcoming Zhuo Fumin and Jessie Jin as managing partners and Michael Kuan and Steve Chu as venture partners. All four are partners in Chinese venture capital firm SIG Capital, the manager of Venture Star Shanghai, which is now an affiliate of Granite. The partners will continue to manage the SIG portfolio, in addition to working on Granite's deals, said Granite's co-founder & managing partner Scott Bonham (pictured at left). The two firms have had a working relationship since Granite was founded in 2000 and are already in the same offices.
"We've been working with SIG for quite some time, and they have a very similar working methodology to us," Bonham said. "The plan is that we're going to be one firm, but they'll still have their commitments to their limited partners."
Granite makes expansion-stage venture capital investments in the U.S. and China. Its China team backs companies whose growth is driven by consumers; while the U.S. team invests more broadly, looking at information technology and healthcare. - George White
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