China's Qiming Venture Partners secures $3.2 billion in funding

Shanghai-headquartered venture capital firm, Qiming Venture Partners, has secured $3.2 billion in its latest fundraise.

• The fund was raised as $2.5 billion in Fund VIII and $700 million in Fund VII.
• The VC firm has invested in more than 480 companies with 70 becoming unicorns.
• Its portfolio includes Xiaomi, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, APT Medical, Meituan, Bilibili, and Roborock.
• Gary Rieschel founded Qiming in 2006 in Shanghai and the firm has raised $9.6 billion to date.