Qiming Venture Partners, an early Xiaomi backer, raised $3.2B across two funds, bringing its total managed to $9.4B across 18 funds (Jane Zhang/Bloomberg)

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Jane Zhang / Bloomberg:

Qiming Venture Partners, an early Xiaomi backer, raised $3.2B across two funds, bringing its total managed to $9.4B across 18 funds  —  Qiming Venture Partners raised $3.2 billion across two new funds, joining Sequoia China and IDG in securing fresh capital as investors grow more sanguine about the country’s startup arena.