SHANGHAI, July 10,
2022 /PRNewswire/ -- Qiming Venture Partners
announced today the closing of its latest funds totaling
US$3.2 billion, including USD Fund
VIII at US$2.5 billion and the first
closing of RMB Fund VII at RMB 4.7
billion (or US$ 700
million).
As in prior funds, Fund VIII was oversubscribed and reached its
hard cap for limited partner commitments. This increases the firm's
capital raised to $9.4 billion across
18 funds.
Committed capital includes the Qiming Venture Partners Fund VIII
main fund that focuses on early and growth stage Technology and
Consumer (T&C) and Healthcare investments and the Qiming
Venture Partners Fund VIII-HC parallel healthcare fund that invests
alongside the main fund (collectively "Fund VIII").
Fund VIII is led by Managing Partners Duane Kuang, Nisa Leung, William
Hu, and Gary Rieschel, with
full support of investment and administration teams based in
Shanghai, Beijing, Shenzhen, and Hong
Kong.
Since its inception in 2006, Qiming has demonstrated its ability
to deliver consistently strong venture capital returns in
China. Qiming has backed over 480
fast-growing companies, over 70 of which have achieved unicorn
status. A vast majority of these companies were early stage at the
time of initial investment. In addition, over 180 of our portfolio
companies have achieved exits through IPO, M&A or other means,
including Xiaomi, Gan & Lee Pharmaceuticals, Tigermed,
Zai Lab, CanSino Biologics, APT
Medical, Meituan, Bilibili and Roborock.
About Qiming Venture
Partners
Founded in 2006, Qiming Venture Partners is a leading
China venture capital firm with
offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San
Francisco Bay Area.
Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4
billion in capital raised. Since our establishment, we have
invested in outstanding companies in the Technology and Consumer
(T&C) and Healthcare industries at the early and growth
stages.
Since our debut, we have backed over 480 fast-growing and
innovative companies. Over 180 of our portfolio companies have
achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai
Stock Exchange or Shenzhen Stock Exchange, or through M&A or by
other means. There are also over 70 portfolio companies that have
achieved unicorn status.
Many of our portfolio companies are today's most influential
firms in their respective sectors, including Xiaomi (SEHK:1810),
Meituan (SEHK:3690), Bilibili (NASDAQ:BILI, SEHK:9626), Zhihu
(NYSE: ZH, SEHK: 2390), Roborock (SHSE:688169), Gan & Lee
Pharmaceuticals (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347),
Zai Lab (NASDAQ:ZLAB, SEHK:9688),
CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger
(NASDAQ:SDGR), APT Medical (SHSE:688617), New Horizon Health
(SEHK:6606), Venus MedTech (SEHK:2500), Sanyou Medical
(SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710),
SinocellTech (SHSE: 688520), Yuanxin Technology, dMed-Clinipace,
Belief BioMed, WeRide, Biren Technology and UBTech among many
others.
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SOURCE Qiming Venture Partners