China's Qiming's fifth U.S. dollar venture fund clocks in at $648 million in commitments

Shanghai-based Qiming Venture Partners raised $648 million in commitments for its fifth U.S. dollar venture capital fund, putting its assets under management at $2.5 billion since a debut in 2006 to focus on a mix of China healthcare-related firms among other investments such as mobile phone maker Xiaomi, the company said in a release. "Qiming's portfolio includes over 160 investments distributed among its targeted sectors. Qiming Venture Partners invests in early-stage and expansion-stage deals, with over 50% of its investments in early stage companies," according to the release. The capital raising effort was flagged last week in a press release that noted Qiming's managing partner responsible for the healthcare fund, Nisa Leung, had invested in companies such as Shanghai-based ZAI Lab, which recently cleared $100 million-plus in a Series B round. Release