Alibaba Founder Jack Ma Launches Chinese Venture Fund
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry
Jack Ma, the chairman of B2B trading website Alibaba.com Ltd. (1688.HK) and Target Media Holdings Ltd. founder Yu Feng have teamed up to start a private equity firm to invest in Chinese IT companies. Yun Feng Capital, the name of the new venture company, will have a value of about CNY10 billion ($1.48 billion). Ma is making the investments personally. Yahoo! Inc. (NASDAQ:YHOO) owns 39% of Alibaba Group.