Early Xiaomi Backer Qiming Slashes Fund Goal to $600 Million

Qiming Venture Partners, an early backer of Xiaomi, has reduced the fundraising goal for its new fund targeting Chinese AI and healthcare startups from $800 million to $600 million. This move is seen as a reflection of the lingering caution among global investors regarding China's tech industry. The reduced fund size indicates a more cautious approach by Qiming, which has previously supported successful ventures like Xiaomi. The decision to scale down the fundraising target comes amid ongoing concerns about the Chinese tech sector, which has faced regulatory crackdowns and economic headwinds in recent years. The article suggests that global investors remain wary of investing in Chinese startups, particularly in the AI and healthcare segments, which have been the focus of Qiming's new fund. This cautious sentiment may impact the broader funding landscape for Chinese tech companies as they seek to navigate the evolving regulatory and economic environment.