Qiming Venture Partners has closed Fund IV at USD500m.
The fund continues Qiming's strategy of funding innovations by Chinese entrepreneurs in the information technology, consumer and internet, healthcare, and cleantech sectors.
Qiming's assets under management now exceed USD1.6bn after its debut in 2006.
Qiming's portfolio includes over 70 investments distributed among its targeted sectors. Qiming Venture Partners invests in early-stage and expansion-stage deals, with over 50 per cent of its investments in early stage companies. Qiming's initial investment in a portfolio company ranges from USD500,000 to USD30m.
Most of the LPs in Qiming IV are returning LPs from prior Qiming funds, including Princeton University, Robert Wood Johnson Foundation, New York University, Pantheon, Commonfund, Emerald Hill, UTIMCO (University of Texas Investment Management Company), Mayo Clinic and Dietrich Foundation.
There are four new investors in Fund IV including MIT and University of Pittsburgh Medical Center.
