Qiming Venture Partners Closes $1.1 Billion Fund

Fund closed at target amount on initial timetable, despite COVID-19 challenges

Shanghai – April 20, 2020 – Cooley advised Qiming Venture Partners on the closing of its seventh fund at the target amount of $1.1 billion. Fund VII, which closed despite the COVID-19 pandemic and geopolitical uncertainties, will focus on early-stage healthcare and technology, media and telecommunications investments. Partner Jordan Silber led the Cooley team advising Qiming. 

As in prior funds, the majority of the capital raised for Fund VII comes from a prestigious group of endowments, foundations, family offices and private pensions. Qiming anticipates investing the new fund in areas such as biopharma, medtech, diagnostics, healthcare services, information technology, artificial intelligence, enterprise services, consumer internet and ecommerce.  

Since its debut in 2006, Qiming has backed 350+ fast-growing and innovative companies, 110+ which are publicly traded or have achieved exit through M&A and other means, and 30+ companies that have reached unicorn status. Many of Qiming’s portfolio companies are today’s most influential brands in their respective sectors, including Xiaomi, Meituan Dianping, UBTech, Bilibili, Roborock, Tigermed, Zai Lab, Venus MedTec, CanSino, Schrödinger, Sanyou Medical, AmoyDx, Berry Genomics and WeDoctor – and a large portion are also involved in pandemic-related efforts.

“As the world combats the COVID-19 pandemic, we are proud that many of our portfolio companies play a critical role in providing products and services both to the frontline medical care as well as to the backend supports,” a Qiming spokesperson said in a news release. “Qiming is committed to continue investing in great entrepreneurs for the betterment of humanity. We take great pride in bringing long-term value to all societies.”

Cooley has been advising Qiming for nearly a decade, assisting in fund formation and financing transactions. The firm is fund formation counsel to 550+ fund organizations worldwide, including 50+ fund managers with their primary operations in China.

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Related Contacts
Jordan Silber  Partner San Francisco, Shanghai
Robert Bao  Special Counsel San Francisco
Qi Wang  Associate Beijing
Jingyi Xu  Partner Beijing
Xun Zeng  Partner Beijing, Hong Kong