China-focused venture capital firm Qiming Venture Partners has reached a final close for Qiming Venture Fund V with US$658 million in capital commitments. Investors in the fund included United States-based university endowments Princeton University, Duke University and Massachusetts Institute of Technology; United States-based private foundations the Robert Wood Johnson Foundation, the Mayo Foundation, Commonfund and the Dietrich Foundation; and global asset manager Hall Capital Partners. Qiming Venture Partners V will back Chinese entrepreneurs operating in the technology, internet and consumer, healthcare and clean technology sectors.