ggv capital investing in china and the united states.igator in $250 million for early-stage startups in china. they are seeing more opportunities for our turnovers in china for those on their second or third start up, common in the united states with andepreneurs like elon musk jack dorsey. you're busy with companies like alibaba and airbnb. how do you intend to find the jack dorsey or elon musk of china? >> we are excited about our new funds. we're focused on global entrepreneurs. we love folks that build global companies. we want to invest early across sectors of focus, like consumer and online mobile services. like e-commerce. connective devices and robotics. we looking for companies in those sectors. in china, we are seeing entrepreneurs coming around for their second or third stint, or folks with experience and great internet companies like alibaba. there is a richer ecosystem of entrepreneurs in china for us to go back. columnistsof our wrote an article saying that everyone knows that asia's startup bubble has to pop. what are you

like ggv, other funds have raised capital in china.gain you have a large pool of , entrepreneurs looking to do interesting things. when you marry availability with entrepreneurs, i think you will see a healthy rate of growth in the number of startups in china across early-stage and even into later stage. it does not worry us. we are in china for the long haul. we have a new fund. we are ready to invest. we are eager to see what is out there. emily: we are seeing venture capital firms like yourselves raising billion dollar funds, even though we are supposedly heading into a downturn and companies are having trouble raising money. bill gurley of benchmark capital talks to techcrunch today and said that the kaufmann fund said that billion-dollar funds suck, then everyone went out and raised billion-dollar funds. he is referring to this report by the kaufmann foundation that says venture capital is a not good place for institutions to invest, especially in bigger funds. what is your response? glenn we agree with bill. :we think he is absol

if you break down the funds we have raised, ggv 6, looks just like ggv 3, 4, and 5.terms of size. we will invest 70% and 80% of those funds in a and b deals. in things we have done, like airbnb. in addition to that fund, we have raised $250 million in a separate vehicle, focused on seed investing. we have tried to break up our funds into smaller, more manageable funds, along the lines of what bill suggests. emily: we will talk about uber and lyft later in the show. lift has partnered in china. who wins? do you see a duopoly, or something else? glenn: the ridesharing market is a marketplace business, where liquidity really matters. those businesses tend to be dominated by the leader in the market. in the u.s., uber is the leader. lyft is clearly a number two. in china, it is a mirror image. didi is the dominant player, and will continue to be the dominant player. uber has built a good business in china, but they are definitely the number two. we are investors in didi and we think the prospects are bright for the company. emily: you see a winner take most market in rid

if you break down the funds we , looks just ggv 6 4, and 5., we will continue to invest with larger opportunitiesin things we have done, like airbnb. in addition to that fund, we have raised 250 million in a separate vehicle, focused on seed investing. we have try to break up our funds into more manageable funds along the lines of what bill suggests. emily: we will talk about uber and lyft later in the show. they have partnered in china. who wins? the ridesharing market is a marketplace business where liquidity really matters. those businesses tend to be dominated by the leader in the market. in the u.s. uber is the leader. lyft is clearly a number two. image.a, it is a mirror uber has built a good business in china, but they are definitely the number two. we think the prospects are bright for the company. emily: you see a winner take most company -- market in ridesharing? some: you tend to see that of that is why we are excited to be in the market leader in china. being the leader in those types of businesses is very important and that is what we try to focus on when we make investments. emily:

emily: that was on stone managing partner at ggv capital.sked me saying this week it is expanding into china. the second major international expansion after india. udacity will have machine learning as well as many of its most popular and no degree certifications to the chinese student. i started by asking why he targeted china for this expansion? isi think the good we can do unmatched. there, at the population there are very few really great universities. this is a first for education. emily: walk us through the steps. the cost to go to school, how many students your expecting. >> our goal will be 1.3 billion students, that is a lot. even hundreds of thousands or millions of student would be a success. we are intensely work getting students jobs afterwards. emily: your expecting to grow to 15 to 20 million by 2020. how are you localizing? >> we have translated 1000 classes to chinese. mentors that work with our students there. emily: are there companies you are working with in china on the ground? you work with google, salesforce here. >> w

emily: that was on stone managing partner at ggv capital. is expanding into china this week, the second major international expansion after india. it will offer courses machine learning as well as many of its most popular and no degree certifications to the chinese student. i started by asking why he targeted china for this expansion? >> i think the good we can do is unmatched. if we look at the 2.6 billion people that live there, about one third of the world plus population, there are very few really great universities. this is a first for education. emily: walk us through the steps. the cost to go to school, how many students you are expecting, who are you working with? >> our goal will be 1.3 billion students, that is a lot. even hundreds of thousands or millions of students would be a great success. we are intensely work getting students jobs afterwards. emily: there are about 8 million workers in china. you are expecting that to grow to 15 to 20 million by 2020. how are you localizing? >> we have translated 1000 classes to chinese. we h

tomorrow, we hear from ggv capital's glenn solomon about the firm's new $1.2 billion fund to find thek jack dorsey in china. ♪ >> the following is a paid presentation for the nuwave oven pro, brought to you by the makers of the nuwave precision induction cooktop. >> professional chefs create great tasting meals from years of experience and by using professional equipment. now, you can too with the nuwave oven pro. the number one countertop oven in america. no more defrosting or preheating that giant oven. the nuwave cooks all of your meals faster, better, healthier, and easier guaranteed.

coming up on bloomberg tv, our colleague emily chang will speak to ggv managing partner, glenn solomong north. >> syracuse, new york where we are sitting down with princeton graduate, father of two, presidential candidate, ted cruz we have a little surprised up our sleeve. ted cruz like you have never seen him before. >> pinball? >> don't say another word. we will be in syracuse tomorrow. we'll have the debate tonight, bernie sanders' trip to rome, and so much more. john: there is a lot going on. the debate will be fun to watch. we have to get going. let's get to brooklyn. mark: we'll see you tomorrow for more "with all due respect." until then we say, sayonara. ♪ ♪ rishaad: it is friday the 15th of april. this is "trending business". i am rishaad salamat. ♪ rishaad: right, taking you to singapore and sydney. asia pacific market snapping their longest rally. , a deal to freeze production will have little impact. sony forced to hold local production lines. investors counting