Qiming Venture Partners announced the closing of its second fund, Qiming Venture Partners II, raising US$320M for Chinese investments in the healthcare, technology, media, Internet and consumer sectors.

"We continue to be impressed by the Qiming team’s long term commitment, by their deep local expertise, and their global operating experience. We believe this combination makes Qiming a true value-added partner to entrepreneurs in China," said Dan Feder, managing director at PRINCO, the investment arm of Princeton University, in a prepared statement.

The fund will continue to make early stage and select growth and expansion stage investments in the healthcare, technology, media, Internet, and consumer sectors.