Qiming Venture Partners
启明创投
Qiming Venture Partners is a Chinese venture capital firm founded in 2006 that invests across technology, consumer, and healthcare at early and growth stages . As of 2024, it managed 11 dollar funds and 7 RMB funds with approximately $9.5 billion in AUM . The firm operates under a collective leadership model with 4-5 equal managing partners rather than a single key person , and in 2024 promoted Zhou Zhifeng to managing partner to strengthen its deep-tech focus and generational succession .
Its portfolio includes over 530 companies with more than 200 exits through IPO or merger , including notable investments in Xiaomi, Meituan, Bilibili, Gan & Lee Pharmaceuticals, and Zai Lab . The firm has accelerated significantly since 2020: its seventh and eighth dollar funds combined exceeded the total of the first six, and its sixth and seventh RMB funds nearly doubled the first five . In 2023 it raised a record RMB 6.5 billion seventh RMB fund, with insurance companies expanding from 2 to 8 LPs and contributing a quarter of the capital . The firm has also built out its post-investment team to match or exceed its investment staff, reflecting a shift toward platform-style support .
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Coverage
5Y News | Xunming Life Sciences Closes Tens of Millions of Dollars in Series A+ Funding
Accelerating the construction of next-generation Tech-Bio agent infrastructure.
五源资本·Pulnovo Medical Completes $100 Million Series D Round Led by Medtronic, with Gaorong Ventures Continuing to Invest
Medtronic and Pulnovo Medical have signed a commercial cooperation agreement.
高榕创投·"Tashi Intelligent Navigation" Raises $455 Million in Pre-A Round, Linear Capital Continues to Back Through Three Consecutive Rounds Since Seed Stage | Linear Portfolio
China's embodied intelligence sector has set two all-time fundraising records simultaneously.
线性资本·5Y News | Syneron Bio Closes $150 Million Series B Round
Syneron Bio today announced the completion of its Series B funding round.
五源资本·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·5Y News | QLT Biotherapeutics Raises Over 500 Million RMB in Series C Funding
Zhitai Biotech Closes Over 500 Million Yuan Series C Round to Accelerate Core Clinical Pipeline Development
五源资本·New Forces Keep Coming｜5Y News Monthly
The big news from last month.
五源资本·5Y News｜"Natural Selection" Closes $30 Million Funding Round
Virtual companionship steps into the real world.
五源资本·"Natural Selection" Raises $30 Million as Alibaba, Ant Group Bet on AI Companions
Virtual companionship steps into the real world.
暗涌Waves·Dancing with Love, Zhang Huaiting: Staying a Calm "Value Builder" Amid the AI Hype
Make decisions toward your goals, not away from your difficulties.
真格基金·5Y News | Zai Ling Bio Completes Nearly RMB 600 Million Series C Financing
The funding will go toward global clinical development, pipeline expansion, and technology platform upgrades.
五源资本·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·January, Emergence, and Prologue | 5Y News Monthly
The big news from last month.
五源资本·Sp.01 | Debriefing China's Primary Market in 2025 (Ft. Crossroads)
elsewhere别处发生·5Y News | Noitom Robotics Completes Pre-A+ Funding Round
Accelerating the construction of data infrastructure for the embodied intelligence era.
五源资本·Innovation Often Happens Where No One Has Gone Before | 5Y News Monthly
The big news from last month.
五源资本·I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
elsewhere别处发生·5Y News | Xuanming Life Sciences Closes Tens of Millions of Dollars in Series A Funding
Accelerating the intelligent design of antibodies and the development of innovative pipelines.
五源资本·Surgical Robot Maker Cornerstone Robotics Raises ~$200M in Oversubscribed Round to Accelerate Global Expansion
"The foundation of quality healthcare."
高榕创投·5Y News｜Minghui Pharma Closes $131 Million Pre-IPO Round to Accelerate Pipeline Development and Global Expansion
Dedicated to developing innovative therapies that address unmet clinical needs worldwide.
五源资本·5Y News | Zai Ling Bio Completes Nearly RMB 400 Million Series B+ Round
Accelerating the buildout of an innovative drug pipeline built on differentiated molecular scaffolds and novel targets, with a commitment to addressing unmet clinical needs.
五源资本·Zenitar Closes Nearly RMB 400 Million Series B+ Round, Multiple Global First-in-Class Drugs Enter Pivotal Clinical Trials
Structural Biology and AI-Driven Innovative Drug Discovery and Development
高榕创投·Yuaiweiwu Lin Wang: From Education Going Online to Going Intelligent — When Will the AI-Powered All-Capable Personal Tutor Arrive? | Gaorong Future
"Yuaiweiwu" — dancing with love, and dancing with AI.
高榕创投·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·Embodied intelligence startup Tashi Intelligent Navigation announced a $120 million angel funding round, continuing to push the boundaries of physical-world intelligence.
Exploring the unlimited potential of embodied intelligence.
线性资本·Rongbao | Generative AI and medical device companies close new funding rounds, setting domestic records in their respective sectors
The Power of Aspiration.
高榕创投·Pulnovo Medical closes nearly $100 million Series C, setting a new Asia-Pacific record for medical device financing
A pioneer in China's original medical device innovation.
高榕创投·As the year draws to a close, five companies secure new funding to carry momentum into 2025 | FreeS Family Funding News Vol. 21
Looking forward to working alongside more outstanding founders.
峰瑞资本·Surgical Robot Maker Cornerstone Robotics Raises Over 500 Million RMB in Series C to Accelerate Commercialization and Global Expansion
Surgery with peace of mind, lives lived to their fullest.
高榕创投·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·Accelerated R&D and Commercialization of Frontier Products: Medical Devices, Digital Services, and New Brands Go Global | Rongbao
As the year draws to a close and a new one begins, the pace never lets up.
高榕创投·Linear Capital's angel-round lead portfolio company, digital microfluidics technology platform Aoxu Technology, has completed a nearly RMB 100 million Series A funding round, with existing investor Linear Capital continuing to increase its support.
Recently, Foshan Aces Bio-Tech Co., Ltd. (hereinafter referred to as "Aces") announced the completion of a nearly RMB 100 million Series A financing round. **The round was led by Luxin Venture Capital, with existing shareholders Qiming Venture Partners, Linear Capital, and Tongchuang Weiyue continuing to increase their stakes.** WinX Capital served as the exclusive financial advisor for the third consecutive round.
线性资本·Stack Data Completes Nearly RMB 200 Million Series C+ Round, Doubling Down on Health Insurance Tech Services
Building a diversified insurtech value chain, with deep roots in Asia-Pacific insurance markets.
高榕创投·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·Cornerstone Robotics Completes New Funding Round, Accelerating Global Expansion of High-Quality Chinese Surgical Robots
Where surgery brings peace of mind, life unfolds in all its vastness.
高榕创投·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·Heading Into the Next Spring Amid Winter: 7 Early-Stage Companies Raise Nearly 600 Million RMB | FreeS Family Funding News · Vol 13
Looking forward to working alongside more outstanding founders.
峰瑞资本·Linear Capital Wins 36Kr's "Most LP-Recognized Early-Stage Investment Firm"
On September 21, 36Kr hosted the 2022 "China Fund Partners Summit" in Hangzhou, where 36Kr Research Institute released its LP-GP survey series — now in its fourth consecutive year, dedicated to identifying noteworthy investment institutions and their backers in the market. **In the "White Horse / Dark Horse" series, Linear Capital was named the 2022 "Most LP-Recognized Early-Stage Investment Firm in China."**
线性资本·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.
暗涌Waves·New Tracks, Interdisciplinary Fields, Down-Market Expansion, Data Infrastructure... Four Companies Raise Nearly 1.2 Billion RMB in Funding | FreeS Family Funding News · Vol 10
Looking forward to working alongside more outstanding founders.
峰瑞资本·4 Companies Raise Nearly 2 Billion RMB in Total | FreeS Family Funding News · Vol 8
Walk alongside more outstanding founders.
峰瑞资本·Industrial goods e-commerce platform "Yimaigongpin" raises tens of millions of dollars in Series C funding
Make it easier, cheaper, and more convenient for small businesses to buy industrial products.
高榕创投·Li Xiang, Founder of Shize Biotech: The Latest Intersection in Biotechnology — The Spring of Stem Cell Therapy | 2021 FreeS Fund Annual Investor Summit
How much longer until stem cell therapy brings hope to patients with serious diseases?
峰瑞资本·瀚巍微电子完成Pre-A+轮融资，发布最新款超低功耗UWB芯片 Hanwei Microelectronics Completes Pre-A+ Round, Unveils New Ultra-Low-Power UWB Chip
Accelerate the adoption of new products in consumer electronics and industrial internet product segments.
高榕创投·Rongbao · November | New milestones for drug R&D, chips, and autonomous driving; UJU Media lists on Hong Kong Stock Exchange Main Board
New funding, new products, new applications.
高榕创投·Cornerstone Robotics, a Leader in Innovative Surgical Robot Technology, Closes RMB 500 Million Series B Funding Round
We have completed a multi-pipeline layout covering soft-tissue surgical robots and other major specialty surgical robots.
高榕创投·7 Companies Raised Nearly 1.5 Billion Yuan, 4 Valued Above 1 Billion Yuan | FreeS Family Funding News · September
Every step of growth for an innovative company: from 0 to 1, from 1 to 10, and from 10 to 100
峰瑞资本·September, When Hope Will Break Through Like the Sun | 5Y News Monthly
The big news from last month.
五源资本·5Y News | 5Y Capital portfolio company "Left-Hand Doctor" announces completion of 100 million yuan Series B funding round
Building Proactive Medical AI.
五源资本·5Y Capital Portfolio Company Shukun Technology Announces New 700 Million Yuan Funding Round | 5Y News
Digital human platforms are penetrating deep into healthcare scenarios.
五源资本·5Y News | Shukun Technology Secures Another 590 Million Yuan in Funding, 5Y Capital Continues Its Support
Shukun Technology Raises Another 590 Million Yuan in Funding, Accelerating Medical AI Value Realization with Triple-Class Certification and Capital Backing
五源资本·What were the big moments for us last month? | Light Moments August Report
IPOs, Funding, Strategic Partnerships, Awards... August in Review
五源资本·Riding the Gene Therapy Wave | Frees Fund
From Willow Bark to "God's Scalpel" — A Brief History of Drug Development
峰瑞资本·Acquisitions, New Brand Entrepreneurship Courses, and More: 21 Developments and 4 Reflections | FreeS Fund Chalkboard · October
Do what's right, not what's easy.
峰瑞资本·Club Factory Raises $100 Million in Series D Led by Qiming Venture Partners and Several Domestic and International Funds, with FreeS Fund Following On | FreeS Fund Deal News
Ranked as India's third-largest e-commerce company
峰瑞资本·Four Years On, Revisiting Cross-Border E-Commerce | Frees Fund
Focus on long-term value, and business will endure.
峰瑞资本·
