Qiming Venture Capital completed a fundraising of US $ 1.1 billion in new funds, mainly investing in Chinese startups

Qiming Venture Partners announced on Thursday that the company has completed the fundraising of a new fund with a size of $ 1.1 billion, focusing on investing in startups in China's healthcare and technology sectors.

The Chinese venture capital company said in a statement that the fund will mainly invest in biomedicine, genetic diagnosis, corporate services and artificial intelligence. The company manages approximately $ 5.3 billion in assets.

Gary Rieschel, founder and managing partner of Qiming Ventures, said in an interview that the funds will be invested in early-stage Chinese startups with a valuation of less than $ 100 million before financing.