Qiming Ventures managing partner JP Gan quits, likely to set up own venture

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.