Qiming Venture’s Nisa Leung Steps Down After Nearly Two Decades

Qiming Venture Partners, a venture capital firm in mainland China, announced that the company’s managing partner Nisa Leung is leaving after 19 years. Since joining in 2006, Leung played a key role in shaping Qiming’s investment strategy, particularly in the healthcare and biotech sectors.

Under her leadership, Qiming became one of the early investors in China’s life sciences industry, backing notable companies such as insulin producer Gan & Lee, biopharmaceutical firm Zai Lab, vaccine maker Cansino, and AI-driven drug discovery startup Insilico.

During her tenure at Qiming, Leung led investments in several major healthcare companies, including Gan & Lee Pharmaceuticals, Venus MedTech, and New Horizon Health. Qiming and Leung initiated a leadership succession plan in November to ensure a smooth transition. As part of this plan, managing partner William Hu and partner Kan Chen have taken over leadership of the firm’s healthcare investment division following her departure.

Leung expressed appreciation for her time at Qiming, saying that after 19 years, she is prepared to begin a new chapter. While she plans to take a break, she remains dedicated to fostering innovation and supporting entrepreneurs and scientists. However, neither Leung nor Qiming provided details on her departure, and both declined to offer further comments.

Founded in 2006 by Gary Rieschel and Duane Kuang, Qiming is one of China’s leading venture capital firms. It invests in the technology, consumer, and healthcare sectors. The Shanghai-based firm has backed companies such as WeDoctor Holdings and Zhihu Technology and plays a key role in China’s startup ecosystem.

Currently, Qiming manages 11 US dollar-denominated funds and seven yuan-denominated funds, with a total of $9.5 billion in capital raised. Since its inception, the firm has invested in over 580 companies, with more than 210 achieving exits through acquisitions or public listings in New York, Hong Kong, or mainland China. Over 80 of its portfolio companies have reached unicorn or super-unicorn status.

Acknowledging Leung’s contributions, Qiming’s founding managing partner, Duane Kuang, expressed gratitude for her role in shaping the firm’s healthcare investments.

Leung has received several industry accolades, including recognition on the Forbes Midas List for five consecutive years from 2019 to 2023. In 2022, she was also featured on Forbes China’s Best Women VCs list and Fortune China’s Most Powerful Women in Business list. In addition to her venture capital work, she serves as an independent non-executive director at Hong Kong Exchanges and Clearing and the Hong Kong Palace Museum.