Qiming Venture Partners has closed its second fund with $320 million in capital commitments. The Shanghai-based firm focuses on VC opportunities in
In other Qiming news, the firm made several personal announcements: Robert Headley, an Ignition partner and former head of finance for Starbucks, has joined Qiming's investment team on the ground in China; Hans Tung, former China representative of Bessemer Venture Partners, joined as a new partner; a Richard Chen has joined as a venture partner; and Nisa Leung was promoted to partner.
Qiming Venture Partners (“Qiming”), a premier venture capital fund investing in China with affiliate offices the United States, today announced the closing of its second fund, Qiming Venture Partners II (“Qiming II”), raising $320M from top global institutions. The fund will continue to focus on investments in the healthcare, technology, media and consumer sectors and will continue to draw on the team's unique combination of local Chinese investment track record and global operating experience to offer Chinese entrepreneurs meaningful, value-added assistance.
The new fund coincides with several recent enhancements to the local Chinese investment team: Nisa Leung was promoted to partner; Hans Tung, former
Investors in the fund include top institutional investors from around the world. “We continue to be impressed by the Qiming team's long term commitment, by their deep local expertise, and their global operating experience. We believe this combination makes Qiming a true value-added partner to entrepreneurs in
Formed in early 2006, the firm brings together industry and investment veterans who have been investing in China for a decade and who played key roles in global brands such as Cisco, Microsoft, Starbucks, Carlyle and IBM and in successful local companies such as CTrip, Shanda, TechFaith, KongZhong and UTStarcom. “All of us have been working and investing in
The fund will continue to make early stage and select growth and expansion stage investments in the healthcare, technology, media/internet, and consumer sectors. “We have been active in each of our major sectors over the last year,” said Managing Director, JP Gan. “We take a long term view, regardless of short term ups and downs, we believe in maintaining a consistent pace and approach to doing investments in
“I was impressed from the beginning of the process of interacting with Qiming. They are very straight-forward and hard working,” said Lei Liang, CEO of Qiming portfolio company PPS.TV. “Whether it was their initial investigation, our negotiations or the ongoing engagement they have had with me and my company, they shared my enthusiasm and brought very useful perspectives and connections to helping me manage and grow the business.” Qiming was also recently the recipient Top Capital's 2007 “Best VC Investment Institution” award and China Venture's 2007 “Most Promising” Venture Capital award.
Qiming is a premier venture capital firm located in