Qiming Venture Partners has invested an undisclosed amount in LIH Investment & Management, a Beijing-based rehabilitation medical institution, according to a company announcement.
Founded in 2013, LIH Investment both invests in and manages the rehabilitation facilities. So far, the company has established children’s specialized hospitals and clinics in Beijing, Shanghai and Shenzhen as well as a senior rehabilitation hospital in Kunming, Yunnan province.
Qiming’s investment will help the company expand partnerships with international rehabilitation organisations and set up more hospitals in second tier cities including Hangzhou and Chengdu over the next two years.
As part of the investment, Qiming’s managing partner Nisa Leung will join the company’s board.
Qiming, launched in 2006, is a leading Chinese venture capital firm with offices in Shanghai, Beijing, Suzhou and Hong Kong.
In January, it announced the closing of its fifth venture capital fund with $648 million in commitments. It backs Chinese entrepreneurs in IT, internet and consumer, healthcare and cleantech sectors.
To date, it manages five US dollar funds and three RMB funds with $2.5 billion assets under management. Its portfolio includes over 160 investments in early-stage and expansion-stage firms.