How China’s Leading Female Healthcare Investor Backs Billion-Dollar Biotech Companies

’s Xiaomi. The investment firm has raised a total of $9.4 billion in capital across 11 funds, with a particular focus on the consumer tech and healthcare industries; sLast December, Chinese authoritiesthe relaxation of strict Covid-19 control measures in cities across China, spurring market rallies as investors bet the world’s second-largest economy would finally reopen to the rest of the world.

“It's really that perseverance, which I think is so important,” she says. Adapting to the severe “hardships” of lockdown required teams to have tremendous faith, accepting low or nonexistent salaries until they could resume their normal schedules. “That's why I always say ‘do not bet against Chinese entrepreneurs, because they work really, really hard,’” she adds.

Since then, Leung has overseen investment in China’s healthcare scene, introducing U.S.-based companies into the domestic market while nurturing homegrown talent. She’s tapped into burgeoning fields such as AI-powered drug discovery, which uses advanced algorithms to predict the movement of molecules and find those that work for specific diseases. One of her notable investments at Qiming is Schrödinger, which builds AI simulation software that helps scientists discover effective compounds.

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