Alibaba's nonprofit Hong Kong Entrepreneurs Fund will move into biotech, augmenting its existing portfolio focus on AI, fintech and smart cities.
E-commerce firm Alibaba’s $129m Entrepreneurs Fund (EF) is preparing to extend its investment purview in Hong Kong to cover biotech startups, Tech in Asia has reported.
VC firm Gobi Partners manages Alibaba EF, which has until now largely focused on three areas identified in Hong Kong as economic priorities by the city’s government: fintech, artificial intelligence and smart city spaces.
However, the fund will now seek out more biotech opportunities, potentially working alongside specialised co-investors in a bid to combat…
