Nisa Leung has officially stepped down from her position as a managing partner of Qiming Venture Partners, while China’s Hony Capital is the manager of a new fund.
Qiming’s Nisa Leung steps down after 19 years
Qiming Venture Partners on Tuesday announced that managing partner Nisa Leung has officially ended her tenure with the China-based venture capital firm.
The firm initiated a leadership transition plan in November 2024 ahead of new fundraising plans to allow younger partners to take on more prominent positions at the company. William Hu and Kan Chen have taken on leadership roles in the firm’s healthcare investments following Leung’s departure, according to a statement.
“After 19 years at Qiming, I have decided to embark on a new chapter,” said Leung. “While I plan to take some time to recharge, my passion for supporting innovation, entrepreneurs, and scientists remains as strong as ever.”
Founded in 2006, Qiming manages 11 US dollar-denominated funds and seven yuan-denominated funds with $9.5 billion in capital raised, backing more than 580 companies since its inception, according to the company’s website.
Hony Capital to back HK entrepreneurs in Qianhai
Hony Capital, a Chinese private equity (PE) firm that manages over $13 billion, has been appointed the general partner (GP) of a new fund with an initial corpus of 500 million yuan ($68.9 million) to back Hong Kong entrepreneurs setting up businesses in southern China’s Qianhai district.
The new fund, dubbed “Qianhai Shenzhen-Hong Kong Young Entrepreneur Dream Works Fund,” is set to become an innovation and entrepreneurship platform supporting the development of Hong Kong-born entrepreneurs and startups in Qianhai, according to a statement by Hony Capital on Tuesday.
Qianhai, formally known as the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, is a commercial centre located in Nanshan District, Shenzhen City, with a regional GDP of 186.4 billion yuan ($25.7 billion) in the first three quarters of 2024, according to official data.
The new fund — for which Hony Capital plans to raise more capital, particularly from Hong Kong — will mainly target startups with a Hong Kong nexus across sectors like artificial intelligence (AI), embodied intelligence, life science, fintech, and culture and creative industries.
Hony Capital, founded in 2003, is an investment management firm specialising in PE buyouts with extended businesses covering real estate, venture capital, hedge funds, and mutual funds.
Its limited partners include Goldman Sachs, Canada Pension Plan, Teacher Retirement System of Texas, Abu Dhabi Investment Authority, and Singapore’s Temasek — just to name a few, its website shows.
