Shanghai’s Qiming Venture Partners Raises $3.2 Billion Of New Funds

Qiming Venture Partners, one of the largest venture investment firms to arise in China in the past two decades, has raised $3.2 billion of new investment funds, the Shanghai-headquartered company said in a statement on Monday.

The new money lifts its capital raised since 2006 to $9.6 billion. Early picks include Xiaomi, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, APT Medical, Meituan, Bilibili and Roborock.

Qiming has two members of the 2022 Forbes Midas List – Nisa Leung at No. 61 and Duane Kuang at No. 72. (See related post here.)

Qiming is part of a group of home-grown venture companies that began to take off after China joined the World Trade Organization. It was set up in 2006 in Shanghai by Gary Rieschel, who Leung first met while an intern in California, along with Kuang, who she golfed with back in Silicon Valley, too.

Qiming seized upon an on-the-ground advantage in relatively fast-growing, fast-changing China to invest in more than 70 “unicorn” businesses that have grown to more $1 billion in valuation.

See related posts:

China Lands 17 Members On 2022 Forbes Midas List

Mom’s Encouragement Lands China Healthcare Investor On Forbes Midas List

@rflannerychina

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