Qiming Venture Partners managing partner JP Gan is moving on from the China and US-focused venture capital firm, DEALSTREETASIA has learnt from a source directly aware of the development.
Gan has already resigned and is expected to leave at the end of this month.
He confirmed his impending departure to Caixin Global and indicated that he plans to set up his own venture.
Gan was recently ranked number five on Forbes’ 2019 Midas List of top tech investors who have built leading portfolios that have gone public or been acquired for at least $200 million over the past five years or have raised additional funding at a valuation of over $400 million.
He joined Qiming Venture Partners in 2006. His investments at the VC firm include Bilibili, Meituan-Dianping and Ctrip.
Gan started his VC career at The Carlyle Group in 2000 as one of the founding members of its Asian venture capital business, responsible for the firm’s foray into Mainland China. He previously served as CFO of wireless internet major KongZhong, as an investment banker at Merrill Lynch and as a consultant at what was then known as Price Waterhouse.
In 2018, Qiming closed three new funds totalling $1.39 billion, including a $120-million healthcare fund focused on early-stage healthcare opportunities in the US. The other two are a US dollar-denominated vehicle and an RMB-denominated one that will invest across the consumer internet, healthcare, information technology and cleantech sectors.