Seattle based venture firm, Ignition Partners, founded in 2002 by former Microsoft and McCaw executives, leads a new $200 million Chinese investment fund auspiciously dubbed Qiming Venture Partners according to a news report in the SeattlePI.com. The literal translation is "beginning of a new day" and it may indeed signal an even greater stampede into the Middle Kingdom's new generation of Internet and software startups.

Seattle mobile music company, Melodeo may suddenly become a direct beneficiary
of the VC firm's new China operation since it is an Ignition Partners' portfolio company. Prior to the announcement of the new fund, Melodeo had already formed a joint venture in China with previous support from Ignition's contacts overseas.