Qiming Ventures to decide in a year if Southeast Asia deserves its own fund

Qiming Venture Partners founding managing partner Gary Rieschel. Photo: Bloomberg

In yet another sign of Southeast Asia increasingly catching the fancy of Chinese venture firms, Qiming Venture Partners has given itself a year to decide whether to continue investing in the region from its main fund or launch a dedicated Southeast Asia fund.

Is it not late to the party though? Qiming Ventures founding managing partner Gary Rieschel doesn’t think so.

“[T]here are half a billion people in the immediate Southeast Asia region, a good part of the technology infrastructure is several years behind what China has implemented particularly on internet related services, mobile related services. So, it will be different than China but I don’t think we have missed the investment cycle in the region, we have probably reached the investment cycle for the initial wave of sharing economy companies,” Rieschel said.

On the other hand, India is a market where Qiming has decided it will not adopt an aggressive stance due to the country’s weak early-stage record and its lack of infrastructure.

“[Y]ou’ll see us do some business. I don’t think we’re late, but I think we’re not going to be aggressive, because we’re not going to put a team in India anytime in the near future,” he added.

In a wide-ranging interview, Rieschel spoke about the US-China trade war – he prefers to call it a trade dispute -, the current fundraising environment and a long due rationalisation in valuations, among other things.

Edited excerpts:

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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.