Qiming Venture Partners, a Shangai, China-based venture capital firm, closed Qiming Venture Partners Fund VII, at $1.2 billion.
As in prior funds, the vast majority of commitments come from a group of endowments, foundations, family offices, and private pensions.
Led by Managing Partners Duane Kuang, Nisa Leung, William Hu, and Gary Rieschel, with support of investment and administrative teams based in Shanghai, Beijing, Shenzhen, and Hong Kong, Fund VII focuses on early-stage Healthcare and TMT investments, primarily focusing on China market investments.
Since its inception in 2006, Qiming has backed over 370 companies, over thirty of which have achieved unicorn status. A vast majority of these companies were early stage at the time of initial investment. In addition, over forty of our portfolio companies are now public, including Xiaomi, Gan & Lee Pharmaceuticals, Meituan, Bilibili, Roborock, Tigermed, Zai Lab, CanSino Biologics, Sanyou and Venus Medtech. More than thirty portfolio companies are expecting to IPO soon.
Currently, Qiming Venture Partners manages nine US Dollar funds and six RMB funds with over $5.6 billion assets under management.
The firm also announced the first closing of RMB fund VI.