Qiming Venture Partners, a Chinese venture capital firm, closed three new funds totaling $1.39 billion.
The new funds include:
– Qiming Venture USD Fund VI with $935m in commitments,
– Qiming Venture RMB Fund V with ￥2.1 billion in commitments, which are focused on the investment in outstanding Chinese entrepreneurs in the Internet and Consumer (“Intersumer”), Healthcare, Information Technology and Cleantech sectors;
– Qiming U.S. Healthcare Fund I with $120m in commitments, focused on early stage health care opportunities in US.
The U.S. fund LPs include Princeton University, MIT, Duke University, Commonfund, Hall Capital Partners, Mayo Clinic, The Dietrich Foundation and NGS Super among others.
The RMB fund LPs include Oriza FOFs, CDB Capital FOF, CICC, Xiamen C&D Corporation, Suzhou Fund, LUPU Investment and Hang Tang Wealth.
With these new funds, the firm now manages over $4 billion across 12 funds. Qiming’s portfolio includes over 250 investments distributed among its targeted sectors. There are currently over 30 investment professionals within Qiming China and Qiming US, and all the senior team members have strong investment and operation experience coveted by today’s entrepreneurs.
Managing Partners Gary Rieschel, Duane Kuang, JP Gan, Nisa Leung, and William Hu, were joined by Partners Yong Zhang, Grace Lee, Janet Yu, Helen Wong, Jing Wu, Kuantai Yeh and Steven Hu as the leadership team for Qiming. Principals include Peter Yin, Stella Zhou, Alex Zhou and Bonnie Wang.
For the newly established Qiming US health care fund, led by founding Managing Partner Gary Rieschel, Mark McDade and Chris Shen joined as Managing Partners and Jennifer Hu as Partner.
Founded in 2006, Qiming has offices in Shanghai, Beijing, Suzhou, Shenzhen and Hong Kong, in Seattle, Boston and Palo Alto.