We just announced a new fund in China. It is called Qiming. It is a partnership with Ignition and some terrific, seasoned China investors: Duane Kuang, Gary Rieshel and Ed Zhou. We could not be more excited, both by the long term opportunities in China, but also by the opportunity to work with such an exceptional team.
One thing of note is the name. Those of you who look at this blog, know that we are a bit obsessed with naming. Well, we spent a bunch of time on this. One of the classic branding problems is taking your name into another language. Great bad examples abound, e.g. Microsoft translating as “soft and squishy.” In this case, finding the spirit of a brand and figuring out how to make it logical and relevant to the Chinese market was key. So rather than directly translating “Ignition” into characters that would mean “tiny spark” or “fire starter” we decided to go with Qi Ming which implies enlightenment and inspiration to begin something. Not the same as our name in the U.S. but all the better, this fund is meant to be integrated with us in the U.S. but also it’s own thing for a unique market. Anyway, it was a fun exercise.