China-based Qiming Venture Fund Raises Largest Life Sciences Fund of the Year Totaling $1.2b

Nov 20, 2020 | China, Investor Watch, Investors, News

China-based Qiming Venture Fund Raises Largest Life Sciences Fund of the Year Totaling $1.2b

A China-based venture capital group has no problems raising enormous sums of capital for life sciences investment as Qiming Venture Partners closed their Qiming Venture Partners Fund VII, a $1.2 billion fund focusing on early-stage Healthcare and TMT investments. The largest VC fund raising of the year, at least as of now, primarily focuses on China market investments. The vast majority of Fund VII’s capital originates from a prestigious group of endowments, foundations, family offices and private pensions. Evidencing a voracious demand for life sciences investment, this particular fund is led by Managing Partners Duane Kuang, Nisa Leung, William Hu and Gary Rieschel with full support of the global operation (investment and administrative teams) 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 (COVID-19 vaccine candidate), 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.”

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