Granite Global Ventures, which is now called GGV Capital, has added another experienced Chinese business executive to its team in Shanghai. GGV announced on May 27 that Jia Fen Wang, who has been chairwoman of Shanghai-based Bright Dairy & Food Company since 1996, has joined GGV as a venture partner. According to the announcement, Wang has over four decades of experience in China's agricultural and retail industry.

While it would be surprising if a venture capital firm add an executive from a dairy company to its investment team in the US, most VC funds in China believe there are great investment opportunities (often more than in the TMT sectors) in consumer and retail-driven industries. VC investors in China have been looking beyond Internet and new media startups for years, and the trend is going to continue as consumer industries in China blossom. Wang, a seasoned executive from a large state-run company, should be a great asset to GGV.

One of GGV's managing directors, Fumin Zhuo, also has ties to Bright Dairy. Zhuo was previously CEO, executive director, and vice-chairman of Shanghai Industrial Holdings Limited (HKSE: 363), which was an investor in Bright Dairy, as well as SMIC (NYSE: SMI), Ctrip (Nasdaq: CTRP) and others.

Stay tuned to Pacific Epoch for an interview with GGV managing directors Fumin Zhuo and Jenny Lee next week.

GGV's investments in traditional industries, such as retail, service and manufacturing, include:

Chamate (chain of restaurants focused on tea)
Shandong Rongqing Logistics
Yicai (HR service providers)
Chongqing Chaoli Hi-Tech (parts for automobile manufacturing)

GGV's TMT investments in China include:

Alibaba
Hurray!
Tudou
BlogCn
Bokee
hiSoft
Onewave