Alibaba’s Greater Bay Area-focused fund is on its way to reaching its ceiling in the first half of this year, having secured a third of the $150m in capital so far committed.

Greater Bay Area Fund (GBA Fund), an investment vehicle formed by China-headquartered e-commerce firm Alibaba’s Entrepreneurs Fund (AEF), is set to close at about $257m by mid-2022, AVCJ reported yesterday.

Chibo Tang, Global Corporate Venturing 2020 Emerging Leader and managing partner for venture capital firm Gobi Partners, which oversees the vehicle, told Mergermarket the fund has already taken $50m out of the $150m so far committed.

Formed in 2015, AEF is a non-profit scheme intended to encourage entrepreneurship…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.