Top Chinese VC Firm Qiming Plans Leadership Transition

Qiming Venture Partners, one of China’s leading venture firms, is planning a major leadership transition, one of the first of a generation of Chinese VC firms to take this step, according to three people with knowledge of the plan.

Nisa Leung and Duane Kuang, two of Qiming’s managing partners, will gradually step back from their roles to let younger partners take center stage, according to the people. The plan comes as Qiming is preparing to start raising a new U.S.-dollar venture fund next year, with a target size of $800 million to $1 billion, two of the people said.