SHANGHAI, May 19, 2011/ -- Qiming Venture Partners announced today that it closed its Qiming Ventures Fund III vehicle at $450 million. This fund continues Qiming's strategy of investing in outstanding Chinese entrepreneurs in the Information Technology, Consumer and Internet, Healthcare, and Cleantech sectors. Qiming's assets under management exceed $1 billion dollars from its debut in 2006.
Qiming's portfolio includes over 50 investments, distributed among its targeted sectors. Qiming Venture Partners invests in the early and expansion stages, with roughly 50% of its investments at each stage. Qiming's investments in a company range from $500K USD to $30M USD and most of are technology-heavy including these category leading companies:
China Cache (CCIH – IPO Q4 2010), the leading content delivery network in China
Mutto Optronics, a leading provider of touch panel technology
Jiayuan (DATE – IPO Q2 2011), the leading online dating site in China
Taomee, the leading children's entertainment site
Kaixin, a leading social networking site
Vancl, the leading branded ecommerce company
eHi, the leading car rental company
PPS.TV, a leading on line video company
Touch Media, a leading outdoor advertising company
Dianping, a leading lifestyle information company
Alltech Medical, the leading domestic MRI systems company
Arrail Dental, the leading domestic dental service provider
Citic Pharma (sold to Shanghai Pharma Q4 2010),a leading pharmaceutical distributor
Crown Bio, pre-clinical and compound optimization clinical trial company
Tigermed, China's leading Phase I/Phase II clinical trial company
Gan and Lee, China's leading insulin technology company
LP Amina, a leading company in coal fired power plant efficiency and emissions
Lanzatech, a leading biofuels company (along with its JV Partner, Bao Steel Industrial Gases)
Among many other great companies.
Qiming also announced that Hans Tung, who joined the firm as a Partner in 2008, was promoted to Managing Director concurrent with the closing of Fund III. Hans led a number of very successful investments while at Qiming, and has a long history of operating and investing experience in China.
Qiming takes great pride in its investment team. Duane Kuang, JP Gan, Gary Rieschel, Hans Tung, and Nisa Lin are all recognized leaders in their respective areas and have strong reputations in the venture capital community. Qiming's team's stability is a clear differentiator among both entrepreneurs and limited partners.
There are currently over 20 professionals on the Qiming team, and all the senior team members have the combination of investing and operating experience coveted by entrepreneurs today in China. Sunil Gottipati described Princeton's relationship with Qiming as follows: "We have enjoyed success and an excellent working relationship with Qiming from the very beginning as their lead investor and believe they are progressing towards being one of China's best venture capital teams." Ching Tan of Siguler Guff adds "We have enjoyed great success and an excellent working relationship with Qiming and it was a very straightforward decision to participate in Fund III."
Nearly all of the LPs for Qiming III were returning LPs from prior Qiming funds, including Princeton, Robert Wood Johnson Foundation, Siguler Guff, Common Fund, Grove Street Advisors, Emerald Hill, and other leading endowments and foundations. New investors for Fund III include Harvard University Endowment, and UTIMCO (U of Texas Investment Management Company).