Alibaba sets up $50m Taobao fund

Mar 30, 2012 • James Mawson

Alibaba has also created AliVenture, another corporate venturing unit with a team of 16 to 20 investment professionals, according to news provider Asian Venture Capital Journal (AVCJ).

China-based online auction company Alibaba Group has reportedly set up a RMB300m ($50m) corporate venturing fund under its online auction site, Taobao.

Alibaba has also created AliVenture, another corporate venturing unit with a team of 16 to 20 investment professionals, according to news provider Asian Venture Capital Journal (AVCJ). The company also has people working in its Alibaba Capital Partners unit.

The Taobao fund will only support developers who produce digital applications that fit into its marketing platform, AVCJ said.

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