On Thursday, Venture Capital firm GGV stated, it raised $2.52 billion for its latest group of funds marking it as its largest fund raising so far.
The development follows several successful initial public offerings of its portfolio companies, including Affirm Holdings Inc and Airbnb Inc.
The GGV fund raising comes in the wake of another Silicon Valley venture capital firm TCV announcing its largest fund of $4 billion yesterday. Several venture capitalists have said the coronavirus pandemic stimulus package has flushed a lot of money into the system.
According to PitchBook data, U.S. venture capital firms raised a record $73.6 billion in 2020.
GGV has offices around the world including in Shanghai and Silicon Valley.