China’s Qiming Venture Partners closing $650M fund, reaches $600M in healthcare investments

The Chinese venture firm has a heavy focus on technology, and has made many investments in the healthcare space. This is its fifth fund on the U.S.

china and american flagsChina-based investment firm Qiming Venture Partners has been raising a $650 million fund – its fifth – according to an SEC filing. While the fund focuses on China-based startups in the information technology, healthcare and clean tech spaces, many of the dollars come from U.S.-based funds.

The fund’s expected to close today, a source told China Money Network. This brings Qiming’s total assets under management to $2.3 billion across five U.S. funds and three Chinese funds, CMN said – marking this one of the largest China-focused venture funds.

Qiming has invested more than 160 China-based startups, several of its companies now trade on the Nasdaq and New York Stock Exchange.

The company says it has invested more than $600 million in the healthcare sector in the past seven years. In 2014, it invested in a dozen healthcare startups, offering an average of $10 million to each, it said in a statement.

“Qiming currently has investments in nearly 50 companies in the healthcare sector, spanning biopharmaceuticals, medical devices, diagnostics, healthcare services and information technologies,” Qiming Managing Partner Nisa Leung said in the statement.

Some of the more notable life sciences investments include Zai Lab, which is developing an EGFR-targeted lung cancer therapy; Nurotron Biotechnology, a maker of cochlear implants; Tianjin CanSino Biotechnology, which is developing an Ebola Vaccine; and Berry Genomics, which does next-gen sequencing and NIPT testing.

China, of course, is emerging as a powerful player in life sciences innovation – and funds like WuXi Ventures investing in cross-border projects, such as a $250 million fund launched last July that’s aimed at U.S. and Chinese startups.