Qiming invests in traditional Chinese medicine business
Qiming Venture Partners has committed a Series A round of funding to Jun He Tang, a traditional Chinese medicine business. Financial terms were not disclosed.
The new investment will be used to scale up the Jun He Tang's chain store business. Established in 2011, the Nanjing-based company aims to become a leading traditional Chinese medical brand in the next five years by opening outlets in Shanghai, Shenzhen, Chengdu and Taiyuan.
William Hu, a healthcare and life science-focused partner at Qiming, told Xinhua News Agency that the firm was attracted by Jun He Tang's operational team and its commercial business model, as well as the general growth prospects for traditional Chinese medicine.
He added that Qiming will help the company improve its management structure and recruit experienced staff.
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