Qiming Venture Partners wraps up seventh fund at $1.2bn

Qiming Venture Partners has closed its seventh fund at $1.2 billion.

Qiming Venture Partners has closed its seventh fund at $1.2 billion. Qiming Venture Partners Fund VII’s limited partners include endowments, foundations, family offices, and private pensions. The fund will focus on early-stage healthcare and TMT investments.


SHANGHAI, Nov. 18, 2020 /PRNewswire/ — Qiming Venture Partners today announced the final closing of Qiming Venture Partners Fund VII, a $1.2 billion fund focuses on early-stage Healthcare and TMT investments. As of today, this is the largest VC fund raising in 2020 which primarily focuses on China market investments, according to public information. As in prior funds, the vast majority of Fund VII’s capital comes from a prestigious group of endowments, foundations, family offices, and private pensions.

Fund VII is led by Managing Partners Duane Kuang, Nisa Leung, William Hu, and Gary Rieschel, with the full support of investment and administrative teams based in Shanghai, Beijing, Shenzhen, and Hong Kong.

Since its inception in 2006, Qiming has demonstrated its ability to deliver consistent top decile returns for the venture capital field in China. Qiming has backed over 370 fast-growing 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. We have more than thirty portfolio companies expecting to IPO soon.

“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 Duane Kuang, Founding Managing Partner of Qiming Venture Partners.

Qiming Venture Partners today also announced the first closing of RMB fund VI.
Qiming continues to be an active investor in 2020, with over 60 investments completed in the TMT and Healthcare sectors. Over 80 of our portfolio companies completed new financing rounds in 2020. We expect to have the 11th successful IPO in our portfolio this year on November 20th.

“We are very grateful to our LPs for their trust and support over the last 15 years,” said Nisa 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.”

About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently Qiming Venture Partners manages nine US Dollar funds and six RMB funds with over $5.6 billion assets under management. Since our establishment, we have invested in outstanding companies in the TMT and healthcare industries at the early and growth stages.

Since our debut, we have backed over 370 fast-growing and innovative companies. Over 120 companies are already listed on NYSE, NASDAQ, HKEx, Gretai Securities Market, Shanghai Stock Exchange and Shenzhen Stock Exchange, or achieved exit through M&A and other means. There are also over 30 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), Roborock (SHSE:688169), Gan & Lee Pharmaceuticals (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347), Zai Lab (NASDAQ:ZLAB, SEHK:9688), Venus MedTech (SEHK:2500), CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger (NASDAQ:SDGR), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE: 688520), WeDoctor Group, and UBTech among many others.