China-based venture capital firm Qiming Venture Partners has closed its fourth fund having raised $500m from limited partners including US-based medical practice Mayo Clinic.

Other LPs included Princeton University, Robert Wood Johnson Foundation, New York University, Pantheon Ventures, Commonfund, Emerald Hill, UTIMCO, which acts as the university venturing unit for the University of Texas, and Dietrich Foundation, all of which returned as existing investors, as well as MIT and University of Pittsburgh Medical Center.

Founded in 2006, Qiming now has more than $1.6bn of assets under management. It targets both early-stage and expansion-stage deals, and will commit between $500,000 and $30m to an individual company. Recent investments include renewable fuels producer Lanzatech and education provider TutorGroup.

This article was originally published by our sister publication Global Corporate Venturing.

China-based venture capital firm Qiming Venture Partners has closed its fourth fund having raised $500m from limited partners including US-based medical practice Mayo Clinic.

Other LPs included Princeton University, Robert Wood Johnson Foundation, New York University, Pantheon Ventures, Commonfund, Emerald Hill, UTIMCO, which acts as the university venturing unit for the University of Texas, and Dietrich Foundation, all of which returned as existing investors, as well as MIT and University of Pittsburgh Medical Center.

Founded in 2006, Qiming now has more than $1.6bn of assets under management. It targets both early-stage and expansion-stage deals, and will commit between $500,000 and $30m to an individual company. Recent investments include renewable fuels producer Lanzatech and education provider TutorGroup.