That didn’t take long.
JP Gan, who ranked No. 5 on the 2019 Forbes Midas List, left Shanghai-based Qiming Ventures last month to start his own business. He had been a managing partner at the venture capital firm for 13 years.
His newly formed company, INCE Capital, has already raised $165 million in fresh capital for a new fund that will invest in early-stage consumer-related technology companies in China, Gan said in an interview on Friday.
“Interest continues to be strong for investment in China,” said Gan, a founding partner at Hong Kong-headquartered INCE.
The “In” in the company’s name stands for Internet, intelligence, investment and innovation; “ce” comes from the Chinese word for strategy, Gan said.
Gan’s No. 5 rank on the new Forbes Midas List put him above such long-time U.S. investment luminaries such as Peter Thiel and John Doerr.
Gan, 47, holds a master’s degree from the University of Chicago. Among other earlier positions, he was an investment banker at Merrill Lynch and a director at the Carlyle Group before joining Qiming.
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