Qiming Venture Partners
启明创投
Qiming Venture Partners is a Chinese venture capital firm founded by Duane Kuang, who remains its founding managing partner . The firm focuses on early- and growth-stage investments across technology, consumer, and healthcare, with a portfolio that includes Xiaomi, Meituan, Bilibili, Zai Lab, and over 530 companies in total . As of mid-2023, it had achieved more than 200 exits through IPO or merger, including 41 IPOs in the preceding 24 months . The firm operates under a collective leadership model with 4–5 equal managing partners rather than a single key person, a structure Duane Kuang has defended as critical for retaining talent and maintaining accountability . In May 2024, Alex Zhou—who joined in 2014 and built a track record in deep-tech investments including Biren Technology and Zhipu AI—was promoted to managing partner, a move the firm framed as strengthening its technology focus and generational succession . Its assets under management reached $9.5 billion across 11 USD funds and 7 RMB funds as of that date .
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Coverage
CODE27 Raises Over $10 Million in Funding; Hongshan and Qiming Bet on New Human-Computer Interaction Direction
A new generation of AI desktop companions.
暗涌Waves·"Natural Selection" Raises $30 Million as Alibaba, Ant Group Bet on AI Companions
Virtual companionship steps into the real world.
暗涌Waves·The Fundraising Stories of China's "Six Little Tigers": Six Paths, Six Lives
If Kimi ever goes public, will the bell-ringing photo look very different?
elsewhere别处发生·Sp.01 | Debriefing China's Primary Market in 2025 (Ft. Crossroads)
elsewhere别处发生·I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
elsewhere别处发生·IDG Bets on Liu Jingkang: A Victory for Doubling Down on Young Founders
The company turned ten this year; its VC backers have been along for the ride for twelve.
暗涌Waves·Where Are the Bold State Investors?
Breaking Down the Most Active Local State-Owned Capital.
暗涌Waves·2024, When Everyone Stands at a Crossroads: 96 Investors' Decisions
Deciding is easy. Waiting is hard.
暗涌Waves·China's USD Funds Won't Disappear
Live long enough to long China.
暗涌Waves·What Would Qiming Venture Partners Look Like Without Nisa Leung?
Together, we welcome a new era.
暗涌Waves·Who's Standing on the Founders' Side in the Buyback Wave?
Those without ideals feel no sorrow.
暗涌Waves·Qiming Venture Partners' new appointment sends a signal
The perfect candidate.
暗涌Waves·Qiming Venture Partners' Kan Chen: There's an Optimal Path for Chinese Innovative Drugs Going Global
Move beyond single concepts and invest in "global biotech."
暗涌Waves·Money, Contradictions, and ESG
*Who Cares Wins*
暗涌Waves·Trekking to Riyadh
Opportunity, wealth, and a surging tide of people.
暗涌Waves·Qiming Venture Partners Releases Investigation Findings: Due Diligence Violations, Three Investors Disciplined
The most severe penalty since its founding.
暗涌Waves·Exclusive | Qiming Venture Partners Launches Internal Investigation into Commercial Information Extraction Incident
The things that matter more than investing.
暗涌Waves·Qiming Venture Partners Raises Record 6.5 Billion RMB; Duane Kuang: Scale Was Not the Goal
2020 was a watershed year.
暗涌Waves·Hesai Group surged 10% in its IPO — a promising start to 2023
Get moving!
暗涌Waves·Conversations with 29 Tech Investors: There Are Treasures, But No Treasure Map
Investing in tech is definitely the right call, but consensus remains scarce.
暗涌Waves·Three Barometers for the Primary Market, for Your Reference
The bilateral order of the primary market is being restructured on both sides.
暗涌Waves·On the first day of August, we spoke with 23 investors about "confidence."
And, what are the things that are hard but right, and what are the things that are hard but wrong.
暗涌Waves·Forced Exit: The End of China's VC "Tool Man" Era
Behind a rumor about fund staff cuts lies a fundamental shift in China's venture capital model.
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