China's Qiming names Grace Lee as COO

Towards the end of last year, Alex Zhou, an executive director on the technology, media and telecom (TMT) team, was promoted to partner, while healthcare-focused Kan Chen became an executive director. Eleven more promotions have now been announced, including the elevation of Nan Chen, another member of the TMT team, to executive director level.

A further five investment professionals have become vice presidents. Four middle and back office team members have also been promoted, according to a statement. This follows 13 promotions and appointments over the course of 2019, including Zhou and Chen.

Lee has been with Qiming for more than a decade, having previously served as deputy CFO and head of regulatory affairs at C.V. Starr Asia. Zhou joined the firm in 2014 after a stint at KPCB, based in Beijing and Silicon Valley. He focuses on investments in frontier technologies such as artificial intelligence, robotics, and autonomous driving.

Qiming closed its most recent set of funds in 2018, raising $935 million for its sixth US dollar-denominated vehicle, RMB2.1 billion ($334 million) for its fifth renminbi vehicle, and $120 million for a healthcare fund that concentrates on the US. The GP is said to be back in the market with Fund VII.

Gary Rieschel, founding managing partner of the firm alongside Duane Kuang, began scaling back his involvement several years ago and returned to the US in 2016 to launch the healthcare fund. Last year, J.P. Gan, a managing partner who spent 13 years with the firm as head of the consumer-internet vertical, departed to form Ince Capital Partners. Ince closed its debut fund last October at $351.9 million.

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• Topics
• Greater China
• GPs
• People
• China
• Venture
• Qiming Venture Partners
• Appointments