Chinese VC Qiming closes RMB Fund VI at $440m to back healthcare, TMT startups

Shanghai, China. Source: Robynne Hu/Unsplash

Qiming Venture Partners announced on Tuesday the final closing of its RMB-denominated Fund VI at 2.852 billion yuan ($440.3 million) as the China-based venture capital (VC) major ups its stake in early- and-growth-stage healthcare and TMT startups.

The new vehicle has brought Qiming’s total assets under management (AUM) to $5.9 billion, said the firm in a statement. With RMB Fund VI, Shanghai-based Qiming now manages nine USD-denominated funds and six RMB-denominated funds. The firm had raised its debut RMB fund in 2010.

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