(Yicai Global) July 11 -- Chinese venture capital firm Qiming Venture Partners has secured USD3.2 billion in its latest financing round.
USD Fund VIII, which focuses on the technology and consumer, and healthcare sectors, closed the fundraiser at USD2.5 billion, reaching its hard capital for limited partner commitments, the Shanghai-based firm announced on its official WeChat account today. Its RMB Fund VII bagged CNY4.7 billion (USD700 million) in the first closing.
After this round of fundraising, Qiming’s capital rose to USD9.4 billion across 18 funds, it noted.
Qiming has backed over 480 innovation companies since its inception in 2006. Over 180 of its portfolio firms, including Chinese smartphone maker Xiaomi, food delivery giant Meituan, and video website Bilibili, have achieved exits through listings, mergers and acquisitions, and other means.
Editor: Futura Costaglione