Currency options

Less than a year after raising a super-sized U.S. dollar fund, Qiming Venture Partners is back with a new Chinese-focused fund in renminbi. Qiming says the investment strategies are the same, but that having both renminbi and U.S. dollar vehicles gives it the ability to attract different LPs and invest in more companies.

On Nov. 3, Qiming announced the final close of its oversubscribed fourth renminbi fund at RMB1.5 billion ($221.4 million). The new fund is 50% bigger than the third renminbi fund, which in 2014 raised RMB1 billion ($146.1 million). ...