Qiming raises $1.2bn in healthcare, tech

Qiming Venture Partners held the final closing of Qiming Venture Partners Fund VII, a $1.2 billion fund focused on early stage healthcare and TMT investments. According to officials, this is the largest 2020 venture capital fund raise that focuses on China market investments, according to publicly available information. The investors in the fund includes endowments, foundations, family offices and private pensions, as is the case with prior funds launched by Qiming. Qiming Venture Partners today also announced the first closing of RMB fund VI. The latest launches bring Qiming’s total number of funds to nine US Dollar funds and six RMB funds Fund VII is managed out of offices in Shanghai, Beijing, Shenzhen and Hong Kong by Managing Partners Duane Kuang, Nisa Leung, William Hu and Gary Rieschel. The $5.6 billion firm also has U.S. offices in Seattle, Boston and the San Francisco Bay area. "International investors are bullish about China's economy and optimistic about the investment return from the China market. They are keen on investing in China's top-tier VC funds," said Kuang, founding managing partner of Qiming Venture Partners. Qiming has invested in China since its inception in 2006 and has backed more than 370 fast-growing companies of which 30 have reached unicorn status. The majority of these companies were early stage at the time of initial investment. Over 40 of Qiming’s portfolio companies are now public, including Xiaomi, Gan & Lee Pharmaceuticals, Meituan, Bilibili, Roborock, Tigermed, Zai Lab, CanSino Biologics, Sanyou and Venus Medtech. Qiming also has more than 30 portfolio companies expecting to IPO soon. Qiming continues to be an active investor in 2020, with over 60 investments completed in the TMT and healthcare sectors. Over 80 of Qiming’s portfolio companies completed new financing rounds in 2020. Officials expect to have its 11th successful IPO for the year this month. "We are very grateful to our LPs for their trust and support over the last 15 years," said Leung, managing partner of Qiming Venture Partners. "Qiming will continue to focus on investing in visionary entrepreneurs to bring long-term value to humanity and society."

Qiming raises $1.2bn in healthcare, tech

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