• Qiming Venture Partners Announced That It Closed Its Qiming Ventures Fund III Vehicle at $450 Million
  • May 23,2011

     

    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).

     

     

    return >>>