Xiaomi-backer Qiming Venture wants to pump $800 million into Chinese AI startups

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Qiming Venture Partners, the early backer of tech heavyweights Meituan and Xiaomi Corp., is seeking to raise about $800 million to ride a wave of renewed interest in Chinese AI startups, according to people familiar with the matter.

The company will cap the fundraising at $1 billion, the people said, asking not to be named because the matter is private. The plans are preliminary and may change, they added. A representative for the fund declined to comment.

Qiming, led by founding managing partners Gary Rieschel and Duane Kuang, is part of a handful of…



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Xiaomi-backer Qiming Venture wants to pump $800 million into Chinese AI startups


Qiming Venture Partners, the early backer of tech heavyweights Meituan and Xiaomi Corp., is seeking to raise about $800 million to ride a wave of renewed interest in Chinese AI startups, according to people familiar with the matter.

The company will cap the fundraising at $1 billion, the people said, asking not to be named because the matter is private. The plans are preliminary and may change, they added. A representative for the fund declined to comment.

Qiming, led by founding managing partners Gary Rieschel and Duane Kuang, is part of a handful of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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