Qiming Headlines | US$200 Million Qishun QFLP Project Launches in Kunshan
Intent reached in March, establishment completed in May, first outbound investment wrapped up in July... Kunshan and venture capital firms are racing toward each other once again at full speed. On August 19, the Qishun QFLP project launch ceremony and the comprehensive cooperation signing between Qiming Venture Partners and Kunshan Chuangkong Group took place at the city's Industrial Capital Center. Kunshan Party Secretary Chen Liyan met with Duane Kuang, Founding Managing Partner of Qiming Venture Partners, and together they witnessed the signing. City leaders Zhang Feng and Qian Xudong also attended.
Photo | Chen Leilei
Chen Liyan expressed her gratitude to Qiming Venture Partners for its long-standing support of Kunshan's development. She noted that Kunshan is currently focused on three strategic priorities — "core industries plus," "artificial intelligence plus," and "green and low-carbon plus" — to accelerate the construction of its "2+3+3" emerging industry system. With its strong capabilities and extensive investment experience, Qiming Venture Partners has broad prospects for collaboration with Kunshan. The successful launch of the Qishun QFLP project fully demonstrates the confidence of capital markets and enterprises in Kunshan, and will further promote the deep integration of international capital with local industries. It will channel more financial resources into Kunshan enterprises, foster a new development pattern of mutual reinforcement between domestic and international circulation, and represent a landmark milestone with global, strategic, and leading significance for deepening financial reform and expanding openness in the new era. Kunshan will do its utmost to provide service guarantees and create favorable conditions for Qiming Venture Partners' development in the city.
Duane Kuang stated that Kunshan boasts a solid industrial foundation and a top-tier business environment. Qiming Venture Partners remains optimistic about Kunshan's industrial vitality and investment climate, and will leverage its own strengths to seize the QFLP project launch as an opportunity. Around Kunshan's key industrial sectors, it will innovate investment models, strengthen investment deployment, and carry out deep cooperation in fund-based investment attraction and foreign capital recruitment — injecting more financial momentum into enterprise development and contributing greater strength to Kunshan's high-quality growth.
During the event, Qiming Venture Partners and Kunshan Chuangkong Group signed a comprehensive cooperation agreement to further integrate Qiming's top-tier investment capabilities in technology and healthcare innovation with Kunshan's robust industrial resources, continuously channeling capital momentum and innovative vitality into Kunshan's industrial upgrading.
Photo | Chen Leilei
Further Reading
Recently, Kunshan Qishun Equity Investment Partnership (Limited Partnership) received approval for its pilot qualification, marking the successful launch of the Qishun QFLP project and the completion of its first outbound investment. The partnership has a committed capital of $200 million, focusing on early and growth-stage outstanding enterprises in technology and healthcare innovation. It will bring cutting-edge global technology insights and industrial development experience to Kunshan, effectively promoting deep cooperation between Kunshan's industrial system and industrial capital.
QFLP offers advantages including flexible foreign exchange settlement, investment convenience, investor-friendly terms for portfolio companies, streamlined taxation, and preferential treatment on share reductions. It is one of the primary pathways for overseas investors to enter China's private equity and venture capital markets. The Qishun QFLP project is managed by Qiming Weichuang Equity Investment Management (Shanghai) Co., Ltd., with nearly RMB 200 million in capital to be deployed in the near term across projects including innovative medical device companies, innovative technology service companies, and innovative technology equipment manufacturers.
Qiming Venture Partners is a renowned venture capital institution at home and abroad, with total assets under management reaching $9.5 billion and investments in over 580 fast-growing innovative enterprises. The cooperation between Chuangkong Group and Qiming Venture Partners dates back to 2021, when Chuangkong Group partnered with Qiming to establish Kunshan Qiming Rongkai Equity Investment Partnership (Limited Partnership) in Kunshan. The fund invested in a number of technology enterprises including Zhipu AI, one of the "Six Little Tigers" of large language models, and Galaxy Universal, one of the "New Four Little Dragons" of embodied intelligence. It also helped attract Cix Technology to Kunshan and supported local enterprise Kunshan Gaoxin Xin.
Following the introduction of the "New Six Measures" for mergers and acquisitions in 2025, Chuangkong Group participated in a specialized M&A fund initiated by Qiming Venture Partners. It also continued to increase its investments by participating in Shanghai Qiming Hungrui Private Equity Fund Partnership (Limited Partnership).
The partnership between Chuangkong Group and Qiming Venture Partners is like a "bond of metal and stone" — rooted in the industrial bedrock as resilient as Kunshan stone, and tied together by a trust as solid as gold and stone, jointly sketching out a model for upgrading through science and technology innovation.
Source | Kunshan Release
Author | Zhai Yubiao
Editor | Liu Wenqi
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Qiming Venture Partners was founded in 2006. The firm currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, Qiming has focused on investing in outstanding early and growth-stage enterprises in Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 fast-growing innovative enterprises. More than 210 of these have gone public on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 portfolio companies have become recognized unicorns or super-unicorns in their industries.
Many Qiming Venture Partners portfolio companies have grown into the most influential firms in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ:BILI, 09626.HK), Zhihu (NYSE:ZH, 02390.HK), Roborock (688169.SH), UBTECH (09880.HK), WeRide (NASDAQ:WRD), Insta360 (688775.SH), 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), Berry Genomics (000710.SZ), SinoCellTech (688520.SH), Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu AI, StepFun, Biren Technology, and others.