Yunfeng backs Alibaba after cloud fund launch

Nov 3, 2011 • Robert Lavine

China-based private equity firm Yunfeng joins a pool of backers investing in Alibaba after launching a joint mobile and cloud computing investment fund last month

China-based private equity firm Yunfeng Capital and private equity firm Silver Lake Capital have, together with additional investors, have paid $1.6bn to acquire a 5% stake in the Alibaba Group, news agency Reuters said today.

This followed Alibaba Group and Yunfeng Capital launching a CNY1bn ($157m) investment fund on 24 October to provide capital to cloud-computing companies and mobile application developers using Alibaba’s operating system. Alibaba founder Jack Ma was among Yunfeng’s backers when it was set up last year.

Alibaba’s Aliyun…

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