China’s Qiming appoints Qualcomm investor as venture partner

Shen served at Qualcomm for two decades, most recently as vice president of Qualcomm and managing director of Qualcomm Ventures. He was responsible for investments in China, leading a team that backed more than 70 technology companies while providing post-investment support.

Shen said in his LinkeIn profile that his connection to Qiming dates back 15 years, when Qualcomm co-invested with the VC firm in Shanghai-based CooTek, an app developer founded in 2008 that listed in US in 2018.

Shen started his career as a founder of US telephony start-up NeTrue Communications in 1996, moving on to US optical instrument supplier General Photonics four years later. He joined Qualcomm in 2003, working initially as part of a joint venture between Qualcomm and China Telecom, then moving to the company’s internet business and Qualcomm Ventures.

Qualcomm Ventures has asset under management of USD 2bn globally with 150 active portfolio companies. Investments span across seven regions: US, China, India, Israel, Europe, Latin America, and Korea

Qiming Venture Partners is one China’s best funded VC firms in terms dry powder. It closed its seventh renminbi-denominated fund on CNY 6.5bn (USD 930m) last May, marking what it claimed was China's largest local currency fundraise of 2023 to date.

Last year, Qiming announced a final close of USD 2.5bn on its eighth US dollar fund. It has now raised USD 9.5bn across 18 funds since its inception in 2006. There has been a significant increase in fund size for both currencies ¬– the latest vintages coming in at more than twice the size of their predecessors.

Qiming focuses on early and growth stage companies, primarily in the technology and consumer (T&C) and healthcare sectors. It has backed some 530 companies, more than 70 of which have become unicorns. There have been more than 200 exits through IPOs, M&As, and by other means.

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• Topics
• Greater China
• Venture
• People
• China
• Qiming Venture Partners
• Qualcomm Ventures
• Appointments