Chinese biopharmaceutical company CANbridge Life Sciences has raised US$25 million in a series B round from lead investor Lapam Capital, a Beijing-based life science venture capital firm. Existing investor Qiming Venture Partners and new investors, Yuanming Capital, Yanyuan Capital, Biossom Investment Management and Wuxi App Tec, also participated in the round, the company announced today.
GGV Capital and Shunwei Capital have led a RMB400 million (US$58 million) new funding round in Chushou TV, a mobile video live streaming platform specialized in mobile games. Qiming Venture Partners and Feidian Capital also participated in the round.
Berry Genomics, a Chinese prenatal genetic testing and diagnostics company backed by Qiming Venture Partners and Legend Capital, is moving ahead toward an A-share listing via a reverse merger with Shenzhen-listed Chengdu Tianxing Instrument & Meter.
The closing months of 2016 have been kind to Qiming Venture Partners. The US$2.7 billion-under-management Chinese venture capital firm saw three of its portfolio companies list in public markets during the past month: in Shanghai, Taiwan and Hong Kong.
Qiming Venture Partners has led a series B funding round in Hangzhou-based Microtech Medical, a Chinese medical equipment start-up developing and manufacturing medical devices related to diabetes diseases.
Beijing-based face recognition technology firm Face++ has raised at least US$100 million from Foxconn Technology Group, CCB International Holdings Ltd. and existing investors, according to media reports.
Beijing-based technology sector online recruitment platform Lagou has completed RMB220 million (US$34 million) new round of funding led by a Chinese investor, according to Chinese media reports.
Qiming Venture Partners has invested over RMB4 billion (US$600 million) in healthcare companies in the past seven years, accounting around 40% of its aggregate invested capital, says the company in a release today. The China-focused venture firm's healthcare team, led by managing partner Nisa Leung, made 12 healthcare investments, with an average check amount of US$10 million in 2014. "In 2016, Qiming plans to continue what it has always done: move slowly and surely forward," Nisa says. "We need to study the industry extensively and keep a close eye on many companies." Qiming invested in Gan & Lee Pharmaceuticals in 2009 in the firm's first investment in the sector. The firm currently has investments in nearly 50 companies in the healthcare sector, including Zai Lab, Nurotron Biotechnology, Tianjin CanSino Biotechnology, and Berry Genomics.
Chinese venture capital firm Qiming Venture Partners announced the promotion of Peter Yin Ming, Stella Zhuo Lingfei, Shiyu Wang, Jay Yin Jie to principal, according to a company announcement.
In 2013, private equity firms poured over US$1.2 billion in companies related to the environment industry in China, accounting for 8.3% of the year’s total transaction volume, the highest percentage recorded for this sector, according to Asia Private Equity Review.
Shanghai-based Qiming Venture Partners says that Helen Wong has joined the firm as a partner focused on investments in the Internet and consumer sectors.
Nanjing-based traditional Chinese medical clinic Jun He Tang says the company has completed series A financing from Qiming Venture Partners. Jun He Tang says it raised funds amounting to tens of millions of RMB, but did not specify the exact amount.
Guangzhou-based Chinese web game developer Forgame Holdings Ltd. completed an IPO on the Hong Kong Stock Exchange, raising about US$206 million.