Qiming Venture Partners closed two new China healthcare and technology funds with $3.2 billion in fresh capital, both of them at their hard cap limits. The USD Fund VIII has $2.5 billion and the first round of RMB Fund VII closed at RMB 4.7 billion ($700 million) (see story). Since being founded in 2006, Qiming has backed over 480 companies, which include 70 that have unicorn status and 180 with exits. Over the last three months, China's life science VCs have reported the following capital raises: OrbiMed - $1.1 billion; Vivo - $600 million; Sequoia - $9 billion.