Qiming Venture Partners, a China-based venture firm, closed its fourth fund at $500m.
Limited Partners include Princeton University, Robert Wood Johnson Foundation, New York University, Pantheon, Commonfund, Emerald Hill, UTIMCO (University of Texas Investment Management Company), Mayo Clinic, Dietrich Foundation, MIT and University of Pittsburgh Medical Center.
This fund backs early-stage and expansion-stage Chinese entrepreneurs in the Information Technology, Consumer and Internet, Healthcare, and Cleantech sectors. Its initial investments range from $500K to $30m.
Led by managing partners Duane Kuang, JP Gan, Gary Rieschel and Nisa Lin and partners William Hu, Yong Zhang, Grace Lee, Helen Wong, Jing Wu and Janet Yu, the firm has backed Xiaomi, Tigermed (SZSE: 300347 — IPO Q3 2012), China Cache, Jiayuan, Taomee, Forgame, PPS.tv, Citic Pharma, Dianping, eHi, Alltech Medical, Arrail Dental, Gan and Lee, Hexing, LP Amina, Lanzatech, TutorABC, Mogujie, Meitu.