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Home : Venture Capital : Qiming Venture Partners closes 320m venture capital fund for China
Qiming Venture Partners closes 320m venture capital fund for China
Shanghai-based venture capital firm Qiming Venture Partners has closed its second fund, Qiming Venture Partners II, on $320m, exceeding its target of $300m. The fund will continue the firm's focus on early stage and select growth and expansion stage investments in the healthcare, technology, media and internet and consumer sectors.
Investors in the fund include institutional investors from around the world, including PRINCO, the investment arm of Princeton University. JP Gan, managing director, Qiming, added, 'We have been active in each of our major sectors over the last year. 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 China.' Recent investments have included clinical research company Crown Bioscience, auto rental and travel services company eHi and education group Oriental Cambridge. Qiming has also announced the promotion of Nisa Leung to partner and the appointments of Hans Tung as partner and Richard Chen as venture partner. Robert Headley, a partner at US sister firm Ignition Partners, has also joined the firm's investment team in China. Qiming was founded in 2006 when Ignition joined forces with Rieschel, founder and former managing director of Mobius Venture Capital, and Duane Kuang, former director of Intel Capital China, to establish the firm. http://www.altassets.com/news/arc/2008/nz13419.php 24 times read
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