Qiming hires ex-GGV partner to cover consumer internet space
Qiming Venture Partners has hired Helen Wong, formerly of GGV Capital, as a partner with responsibility for investment in the internet and consumer sectors. The move comes a few months after her predecessor in the role, Hans Tung, left Qiming for GGV.
Wong, who has also worked at Venture TDF, led GGV's investment in Tudou when the Chinese online video site was still in its nascent stages. The company went public on NASDAQ and in 2012 merged with domestic rival Youku in a deal worth $1 billion.
"We have known Helen for quite a few years and respect her capability and track record," said J.P. Gan, a managing partner at Qiming. "We believe Helen is a great fit with Qiming's sector-focused, research driven and disciplined investment approach and culture of integrity and commitment to investors and portfolio companies."
The VC firm currently manages five funds with $1.1 billion in assets under management, focusing on early to growth-stage investments in the internet and consumer, healthcare, IT and cleantech areas. Recent commitments include Series A rounds for voice recognition software provider Yunzhisheng, Junhetang Chinese Medicine and insurance information site Dajiabao.
In the last year Qiming has also seen Baidu agree to buy portfolio company PPS' online video business for $370 million while mobile phone brand Xiaomi secured a Series D round of funding that valued the company at $10 billion.
In addition to hiring Wong, the VC firm has promoted James Wang Qi to principal and elevated Peter Mao Shengbo, Shiyu Wang, Roger Wu Jialu and Stella Zhou Lingfei to vice president.
Last year, Nisa Leung, head of Qiming's healthcare practice, was promoted to managing partner.
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