The firm held a first close on its second fund in November 2007, raising $123.5 million from 31 investors, according to a regulatory filing. The firm has not disclosed the name of its limited partners, except for
The new fund is substantially bigger than the $200 million first fund Qiming raised in 2006.
Qiming began in 2006 as a partnership with Bellevue, Wash.-based
Qiming also added Partner Hans Tung, a former vice president at
Qiming has put nearly $75 million to work in 15 startups since its inception, according to data from
So far this year, Qiming has backed three companies, according to data from Thomson Reuters: Shanghai-based advertising service Touch Media, which raised $14 million in January; Seoul-based social networking and game company Nurien Soft, which raised $15 million in March; and Santa Clara, Calif.-based biomedical outsourcing company Crown Bioscience, which raised $16.3 million in March.
The Chinese word “Qiming ”(pronounced “chee-ming”) means to start and signifies the beginning of a new day. —Alexander Haislip