Qiming Venture Partners, a Chinese venture capital firm, plans to secure $250 million for its second U.S.-based healthcare venture fund.

The vehicle, Qiming U.S. Healthcare Fund II, will target early-stage healthcare opportunities in the U.S.

In April 2018, Qiming closed Qiming U.S. Healthcare Fund I with $120 million in commitments, targeting early-stage healthcare opportunities in U.S.

In the same year, Qiming Venture Partners also closed Qiming Venture USD Fund VI with $935 million in commitments and Qiming Venture RMB Fund V with $311.3 in commitments.