Suning has joined forces with Yunfeng Capital, the private equity firm co-founded by Alibaba founder Jack Ma, committing up to $210m to a fund that is targeting a $2.5bn close.
China-based retail group Suning agreed today to provide up to $210m for a fund being raised by China-based private equity firm Yunfeng Capital with a $2.5bn target, according to a regulatory filing.
Suning will provide the money through a wholly-owned subsidiary known as Suning International, and has already committed more than 61.4% of the capital. The fund, Yunfeng Investment III, will seek additional limited partners as it looks to reach its target.
Founded in 1990, Suning is the biggest…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
