Qiming U.S. Healthcare Fund III, LP
Qiming Venture Partners USA · adviser of record: Qiming U.S. Ventures Management, LLC · 2021 vintage
Qiming U.S. Healthcare Fund III, LP is a 2021 venture fund managed by Qiming Venture Partners USA, with $300mm raised (Form D, amount sold). It reported $216mm in gross assets at year-end 2025, 0.72x its size, against a peak of $256mm in 2021.
- Latest value held
- $216mm year-end 2025
- Peak
- $256mm year-end 2021
- Fund size
- $300mm Form D, amount sold
- Held vs. size
- 0.72x peak 0.85x
Value held by year-end
Gross asset value reported on Form ADV at each year-end. Dashed line: fund size. Open in the Fund Tracker
| Year-end | Gross assets | ÷ size | Change |
|---|---|---|---|
| 2025 | $216mm | 0.72x | -8% over 2 yrs |
| 2023 | $236mm | 0.79x | -5% |
| 2022 | $247mm | 0.82x | -3% |
| 2021 | $256mm | 0.85x | – |
Other funds from Qiming Venture Partners USA
All Qiming Venture Partners USA funds
About these numbers
Gross asset value is what the manager reports holding in the fund at each fiscal year-end, on SEC Form ADV, Schedule D. It includes the GP’s own commitment and is before carried interest, so it is not the LPs’ net return, and it does not show cash already distributed. A fall in value can mean distributions, markdowns or both. Fund size is the amount sold reported on Form D, which for some funds reflects only a first close. Private fund ID 805-1999453456. Data updated October 13, 2026.
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