Alibaba Founder Jack Ma Launches Chinese Venture Fund

Posted Apr 21, 2010

Jack Ma, the chairman of B2B trading website 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.