Ignition Partners' China firm scores $320M

The China venture capital firm launched by Ignition Partners of Bellevue has raised $320 million for a new investment fund.

Qiming Venture Partners of Shanghai said it would use the new fund to continue to make early stage and expansion stage investments in health care, technology, media/internet, and consumer companies.

Robert Headley, a partner at Ignition Partners, will join Qiming's investment team on the ground in China. Hans Tung, former China representative of Bessemer Venture Partners of Silicon Valley, will also join Qiming as a partner.

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Ignition Partners, Washington state's largest venture capital fund, launched Qiming with an initial $193 million venture fund in 2006.

Recent Qiming investments have included clinical research company Crown Bioscience, luxury e-commerce firm9Diamond.com, and auto rental and travel services company eHi.