Aliyun launches IDG-backed fund

Mar 31, 2015 • Thierry Heles

Alibaba subsidiary Aliyun is set to establish its Founder+ programme with the backing of 70 other actors, including International Data Group subsidiary IDG Capital Partners.

China-based Aliyun, the cloud services provider subsidiary of internet company Alibaba, yesterday revealed Founder+, a new initiative targeting China-based startups, Tech in Asia reported earlier today.

The fund is backed by media and technology company International Data Group’s investment affiliate IDG Capital Partners, Innovation Works, Zhenfund and 27 other venture capital firms as well as 20 research institutes and 20 marketing companies.

Selected startups will be provided with undisclosed funding, cloud services from Aliyun worth between RMB30,000 and RMB400,00 ($4,800…

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