Alibaba to anchor $258m fund for startups in China's Greater Bay Area

Alibaba to anchor $258m fund for startups in China's Greater Bay Area

REUTERS/Aly Song

Chinese e-commerce giant Alibaba Group Holding Ltd will anchor a fund for startups in China’s Greater Bay Area, the company announced on Tuesday via its Alibaba Entrepreneur Fund.

The fund will have a targeted size of HK$2 billion ($258 million) and is expected to close in the second half of 2022, the company added.

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