Qiming promotes William Hu to managing partner

Hu has been with the GP for nearly nine years and led investments in Tigermed, BBI Lifescience and Coland Pharma - all of which are now listed - as well as a range of still private start-ups, including Arrail Dental, Tellgen Life Science, AmoyDx, Centreherbs Bio, Vinno medical and APT medical.

Prior to joining Qiming, he worked as a strategy consultant at IBM BCS. In his new capacity, Hu will join the firm's investment committee and contribute to strategic planning, alongside fellow managing partners Gary Rieschel, Duane Kuang, J.P. Gan and Nisa Leung.

Qiming manages $1.7 billion in assets across four US dollar-denominated and three renminbi funds. The fourth US dollar fund closed at $500 million last year and the firm has since raised a $75 million annex vehicle that will make follow-on investments in Fund III portfolio companies.

The firm has invested in more than 120 companies across the technology, internet, consumer, healthcare and cleantech spaces. In the last month it has participated in a $50 million Series B round for online education app developer Xuebajun and a $100 million round for existing portfolio company Tuhu Yangche, an online-to-offline after-sales auto services provider.

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