Ant Financial, the financial services affiliate of Alibaba currently raising money at a valuation of up to $40bn, will look to fund internet finance companies through the unit.
Ant Financial Services Group, the financial services affiliate of China-based e-commerce group Alibaba, has launched a RMB 1bn ($160m) venture capital fund, China Money Network reported today, citing a company statement.
The Ant Ecosystem Co-Win Fund will fund internet finance companies and those in related industries such as online-to-offline platform developers, according to the statement, posted on Ant Financial’s Weibo account.
The company also revealed that it is planning to establish its own crowdfunding platform, Ant Dake. It is altready…
