Venture Capital · Profile from Venture Capital Research Companion
Qiming Venture Partners
The Shanghai-based early-stage firm founded in 2006 by former Intel Capital and SoftBank investors that became one of China's top venture franchises by pairing consumer-internet bets (Xiaomi, Bilibili, Zhihu, Roborock) with a deep healthcare practice built by Nisa Leung (Tigermed, Gan & Lee, Zai Lab, CanSino), raising ~$9.5bn across 18 USD and RMB funds by 2023.
At a glance
- Founded
- 2006, Shanghai, with backing and support from Seattle-based Ignition Partners
- Founders
- Duane Kuang (former head of Intel Capital in China), Gary Rieschel (former SoftBank Venture Capital partner and US technology executive), with Robert Headley and other founding partners; Nisa Leung joined in 2006–07 to build the healthcare practice
- Headquarters
- Shanghai; offices in Beijing, Suzhou, Hong Kong, and (Qiming US) Seattle and the San Francisco Bay Area/Boston (verify current list)
- Ownership / structure
- Independent private partnership owned by its partners; parallel USD and RMB fund families plus a US healthcare fund family
- Leadership (2026)
- Founding managing partner Duane Kuang; managing partner Nisa Leung (healthcare); founding managing partner Gary Rieschel (Qiming US); a broader group of partners by sector (titles: verify). JP Gan, a long-time managing partner, left in 2021 to found INCE Capital
- AUM / capital raised
- ~$9.5bn raised across 18 funds (May 2023, per the firm); latest flagships: USD Fund VIII ~$2.5bn (2022) and RMB Fund VII ~RMB 6.5bn (2023)
- Stage focus
- Early stage (Series A/B) with follow-ons through growth; technology (internet, consumer, AI, enterprise, advanced manufacturing) and healthcare (biotech, medtech, services); China-focused, with US healthcare investing through Qiming US
- Signature investments
- Xiaomi, Bilibili, Zhihu, Meituan (via Dianping; verify), Roborock, Tigermed, Gan & Lee, Zai Lab, CanSino, Abbisko. Disappointments: Zhihu's post-IPO collapse; healthcare valuations after 2021
9 deals and moves analysed
Each one gets a full strategy file in the companion: context, the decision, the financing, what happened, and the lesson.
2008
Tigermed
Series A
2010
Gan and Lee
Series A
2010
Xiaomi
Series A
2011
Zhihu
Series A
2014
Zai Lab
Founding Round
2015
Bilibili
Series B
2015
CanSino
Growth Round
2017
Roborock
Series B
2018
Abbisko
Series B