Venture capital firm GGV is splitting off its Chinese business

Details: Unlike Sequoia, however, GGV has never raised geography-specific funds. That could make the decoupling more complicated.

• Word is that GGV won't make management changes to its existing funds, including its $1.5 billion eighth flagship vehicle, but doesn't plan to add any new Chinese portfolio companies.
• GGV had been in market with new funds, per SEC and state pension fund disclosures, and it's unclear what happens to that process.
• The firm says its split will be completed by Q1 2024, although its China team and offices have already been removed from its website.
• GGV's non-China team will continue investing in foreign geographies like Israel, Singapore, India, and Latin America.

The bottom line: GGV is heeding the recent words of Rohit Sipahimalani, chief investment officer of Singapore sovereign wealth fund Temasek: "We won't invest in areas that are in the crosshairs of US-China tensions. We'll prefer to invest in companies that have access to large domestic markets."

• As a side note, Singapore-based GGV partner Jenny Lee, who will be part of the spinoff, sits on Temasek's board.