Jack Ma bucks China private equity downturn, raises $2.5bn

Investors show faith in the Alibaba founder's golden touch as his Yunfeng Capital pulls off a lucrative funding round amid a wider downturn. E-commerce rival Suning is among the investors.

What are the chance of a China-born private equity fund successfully closing a multibillion-dollar fundraising, especially as liquidity notably dries up For most, the odds are extremely long.

But when you take the Alibaba founder’s influence into consideration, it may be a different story.

Yunfeng Capital, a Shanghai-headquartered private equity firm co-founded by Jack Ma, disclosed on Tuesday that it had closed the $2.5 billion fundraising. According to a filing to the US Securities and Exchange Commissionits, the cash will add dry powder to its Yunfeng Fund III, incorporated in November 2017.

Co-founded by the Chinese e-commerce guru and...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222