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Alibaba Launches Entrepreneurs Fund for Hong Kong

On November 19, Alibaba Group Holding Limited (NYSE:BABA) announced the official launch of its Entrepreneurs Fund for Hong Kong, with the objective to support the aspirations of entrepreneurs who wish to take advantage of the resources offered by Alibaba’s ecosystem in e-commerce, logistics, mobile platforms, cloud computing and financial services.

The Hong Kong Entrepreneurs Fund is a not-for-profit initiative of Alibaba Group. The mission of the Fund is to help entrepreneurs realize their dreams and visions for a Hong Kong that is vibrant and engaged regionally and globally.

The Fund will invest in qualifying companies in the start-up, growth and expansion phases of the company life cycle. Qualifying businesses will leverage the platforms in the Alibaba ecosystem to offer products and services to mainland China and the world. HK$1 billion has been earmarked for the Hong Kong Fund.

The Fund will engage independent professional firms (the “Investment Managers”) to manage the investment program. The Fund has selected its first Investment Manager, Gobi Partners, to manage a portion of the investment program and expects to make further selections of Investment Managers for the remaining portions of the program.

To learn more about The Hong Kong Entrepreneurs Fund, please visit http://www.ent-fund.org/en/global/home