Chinese venture capital firm Qiming closes RMB Fund VI at RMB 2.852 billion

Chinese venture capital firm Qiming closes RMB Fund VI at RMB 2.852 billion

Published: 26-01-2021 09:48:00 | By: Pie Kamau | hits: 5783 | Tags:

Chinese venture capital firm Qiming Venture Partners announced the final closing of its RMB Fund VI at RMB 2.852 billion. Currently, Qiming has $5.9 billion in assets under management, targeting early-and-growth-stage healthcare and TMT investments. Qiming raised its first RMB fund in 2010. For the past ten years, Qiming has demonstrated its ability to deliver consistent distinguished returns for LPs and has been well recognized by RMB fund investors.   

Since its inception in 2006, Qiming has invested in more than 380 companies, among which over 40 achieved unicorn status. Qiming has also  exited our investments in over 130 companies through IPO, M&A or other means. Notable exit deals include Xiaomi, Gan & Lee Pharmaceuticals, Meituan, Bilibili, RoboRock, TigerMed, Zai Lab, CanSino Biologics Inc., Venus Medtech, APT Medical, and so forth.

Duane Kuang, Founding Managing Partner of Qiming Venture Partners: ''Qiming has backed hundreds of brilliant entrepreneurs. We are pleased to see that those companies are committed to social good. Qiming managed to close both RMB and USD funds in the past five months, showing that LPs are optimistic about our investment strategy to invest in China's innovative and developing science and technology, even during the challenging global COVID-19 epidemic as well as facing changing global environments.''

In 2020, Qiming made over 70 investments; over 100 of its existing portfolio companies completed new financing rounds. As of today, Qiming has had 13 successful public listings since 2020. Over 60 of Qiming's invested companies contributed to the fight against COVID-19 in China and for the global community. 

William Hu, Managing Partner, Qiming Venture Partners: ''Innovation is the key for startups to break through and become leaders. In the past ten years, we have seen lots of Chinese entrepreneurs starting their business and striving to become a global leader in innovation. The closing of our new funds will enable us to support more visionary founders realizing their entrepreneurial dreams.''