Qiming Toutiao | Qiming Venture Partners' Alex Zhou Named to Forbes 2026 Midas List of World's Top Venture Capitalists
The systematic capabilities Qiming Venture Partners has built over nearly two decades: long-term conviction focused on two core sectors, a systematic "half-step ahead" deployment strategy, and full-chain expertise spanning early to growth stages.
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On May 27, 2026, Forbes officially released the 2026 Midas List. Alex Zhou, Managing Partner at Qiming Venture Partners, became the first China-based investor focused on technology and AI to make the list, debuting at No. 80.
Known as the "Oscars of venture capital," the Midas List is the most influential ranking of investors in the global venture capital industry. This year marks the list's 25th anniversary, making the competition especially fierce — surging valuations for SpaceX, OpenAI, and Anthropic propelled 25 new investors onto the ranking.
Alex Zhou, Managing Partner at Qiming Venture Partners
Alex Zhou joined Qiming Venture Partners in 2014 and was promoted to Managing Partner in May 2024. With over 20 years of combined experience across industry, entrepreneurship, and investing, he has long focused on frontier technologies and is among the most active investors in transformative fields such as artificial intelligence and robotics.
In the first five months of 2026 alone, four of his portfolio companies — Biren Technology, Zhipu AI, Axera, and Yunyinggu Technology — have gone public in succession.
In technology and particularly AI investing, Zhou has consistently adhered to a "half-step ahead" methodology: within domains where he has built his "circle of competence," he敏锐ly captures critical industry signals, anticipates trends, and positions early — rather than following the crowd when market frenzy hits. He believes that facing paradigm-shifting waves, this is the optimal investment approach for generating outsized returns.
At the end of 2019, when domestic GPU players were scarce in China and AI computing demand had yet to enter mainstream consciousness, Zhou made a prescient move as a founding investor in Biren Technology at its inception, leading its first financing round and continuing to double down, supporting it all the way to becoming the first GPU company listed in Hong Kong.
In early 2022, when the prospects for artificial intelligence remained uncertain, the market had not yet coined the term "large models," and few investors had even detected signals of technological transformation, Zhou invested in Zhipu. That round of funding supported Zhipu's development of its first-generation GLM model.
In embodied intelligence, beyond his investment in UBTECH eleven years ago, Zhou has led his team to invest at the early stages of the recent new wave in full-stack companies integrating models and hardware, including Tashi Zhihang, Yuanling Ji, Galaxy Universal, and Daxiao Robotics.
Founded in 2006, Qiming Venture Partners now manages 11 USD funds and 7 RMB funds, with $9.5 billion in assets under management. Since its inception, Qiming has remained focused on two core pillars: technology and healthcare innovation, forming a distinctive "dual-engine" structure.
In technology, Qiming has been deeply engaged in AI for over a decade — beginning with deep learning investments in 2013, it has cumulatively invested in over 100 AI projects totaling RMB 12 billion, with portfolio companies spanning the full AI industry chain. It is among the most active and influential investment institutions in artificial intelligence in China and even Asia. From large models to multimodal AI to embodied intelligence, Qiming's investment decisions consistently follow the curve of technological development rather than blindly chasing short-term capital market hotspots.
In healthcare innovation, Qiming is among the earliest teams in China to fully enter this space for venture investing. Over the past two decades, Qiming's healthcare team has invested in nearly 200 companies, currently focusing on innovative drugs, innovative medical devices, and AI healthcare applications. Its deep cultivation in this domain has not only driven innovation in China's healthcare industry but also delivered tangible clinical value to patients globally.
The two pillars mutually reinforce each other. Qiming's accumulated industry knowledge in healthcare provides unique insight for its AI healthcare application investments; conversely, the frontier technology judgment from its technology practice also empowers the healthcare team to identify technology-driven enterprises with disruptive potential. This cross-pillar synergy is Qiming's systemic advantage.
On the Midas List, the highest-level global ranking for investors, Qiming's investors have received sustained international recognition across different years and domains — from technology to healthcare innovation to artificial intelligence. Underlying this is the system of capabilities Qiming has built over nearly two decades: long-term discipline in focusing on two core pillars, systematic "half-step ahead" deployment, and full-chain professional capabilities covering early to growth stages.
Whether in technology or healthcare innovation, Qiming began systematic layout years before market consensus formed, accompanying companies with a long-term posture and ultimately reaping harvests at the exit stage.
Duane Kuang, Founding Managing Partner of Qiming Venture Partners, once judged: "For the next two decades, investing in AI is the greatest certainty in Chinese investing." Today, this judgment is being validated by the team's virtuous cycle across fundraising, investing, portfolio management, and exits.
Qiming Venture Partners Managing Partner Alex Zhou Named to 2026 Forbes Midas List
Forbes has released its 2026 Midas List, the definitive ranking of the world's top venture capital investors. Alex Zhou, Managing Partner at Qiming Venture Partners, debuts at No. 80, recognizing his track record as a leading China-based investor focused on technology and artificial intelligence.
Known as the "Oscars of venture capital," the Midas List is the most prestigious benchmark in global venture capital. The 2026 list marks its 25th anniversary, with intensified competition across the industry. Surging valuations for frontier companies including SpaceX, OpenAI and Anthropic have brought 25 new entrants to this year's ranking.
Alex Zhou joined Qiming Venture Partners in 2014 and was promoted to Managing Partner in May 2024. He brings over 20 years of combined operational, entrepreneurial and investment experience, with a long-term focus on frontier technologies. He is one of the most active investors backing transformative AI and robotics startups globally.
Alex Zhou has delivered strong exit momentum in 2026. In the first five months of the year, four of his portfolio companies — Biren Technology, Zhipu AI, Axera Semiconductor and Viewtrix Technology — have completed public listings.
Alex Zhou adopts a pragmatic "half-step ahead" investment approach for tech and AI. Within his core areas of expertise, he identifies early industry inflection points and builds positions ahead of mainstream trends, avoiding speculative market hype. This forward-looking strategy has enabled him to capture outsized returns amid major technological paradigm shifts.
In late 2019, when China's domestic GPU ecosystem remained immature and AI computing power was yet to gain widespread market recognition, Alex Zhou invested in Biren Technology at its founding. He led the company's seed round and continued to support subsequent financings, helping the firm grow into the first Hong Kong-listed GPU company.
Alex Zhou made another early, high-impact bet on foundational AI in early 2022. At the time, large language models were still an emerging technology, and few investors recognized their commercial potential. His investment in Zhipu AI supported the development of the company's first-generation GLM model, laying the foundation for its core technology development.
Alex Zhou's early-stage focus also extends to embodied intelligence. He backed UBTECH Robotics eleven years ago and, in the current wave of embodied AI development, has led investments in a new batch of full-stack robotics companies integrating models and hardware, including TARS, Dexmal, GalaxyBot and ACE Robotics.
Founded in 2006, Qiming Venture Partners manages 11 USD funds and seven RMB funds, with $9.5 billion in assets under management. The firm focuses on two core pillars — technology and healthcare — forming a stable dual-driven investment strategy.
Qiming Venture Partners has maintained a long-term AI investment layout for over a decade. Starting with deep learning-focused investments in 2013, the firm has deployed more than RMB 12 billion into over 100 AI projects across the full industrial value chain, establishing itself as one of the most active and influential AI investors in China and Asia. The firm's investment roadmap follows technological evolution across LLMs, multimodal AI and embodied intelligence, rather than short-term market trends.
In healthcare, Qiming Venture Partners is one of China's earliest institutional investors dedicated to the sector. Over the past two decades, its healthcare team has invested in nearly 200 companies covering innovative pharmaceuticals, innovative medical devices, AI healthcare applications and other related areas. Its continuous investment has driven innovation in China's life sciences industry and delivered practical clinical value globally.
Qiming Venture Partners' technology and healthcare practices complement and empower one another. The firm's healthcare industry expertise supports its judgments on AI+ healthcare applications opportunities, while its frontier tech insights help identify disruptive technology-driven healthcare startups. This cross-sector synergy forms Qiming Venture Partners' key institutional advantage.
Qiming Venture Partners' recurring recognition on the Midas List across technology, healthcare and AI reflects its long-built institutional capabilities: consistent focus on core sectors, proactive early deployment, and full-cycle investment expertise covering early to growth-stage companies.
Across both core verticals, Qiming Venture Partners' executes systematic layout years before market consensus emerges, partnering with founders for long-term growth and achieving steady exit results.
"For the next two decades, AI will stand as the most certain investment opportunity in China's venture landscape," said Duane Kuang, Founding Managing Partner of Qiming Venture Partners. The firm's healthy cycle of fundraising, investment, portfolio management and exits continues to validate this long-term judgment.
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Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total committed capital of $9.5 billion. Since its inception, Qiming has focused on investing in outstanding early and growth-stage companies in Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have completed listings on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through mergers and acquisitions. Over 80 portfolio companies have become recognized unicorns or super-unicorns.
Many of Qiming's portfolio companies have grown into the most influential companies in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ:BILI, 09626.HK), Zhihu (NYSE:ZH, 02390.HK), Roborock (688169.SH), Hesai Technology (NASDAQ:HSAI, 02525.HK), UBTECH (09880.HK), WeRide (NASDAQ:WRD, 0800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Biren Technology (06082.HK), Zhipu AI (02513.HK), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ:ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ:SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), SinoCellTech (688520.SH), Insilico Medicine (03696.HK), Hope Medicine, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.