Alibaba Group has officially launched its Entrepreneur Funds in Hong Kong and Taiwan. These funds are a non-profit initiative designed to nurture companies in the start-up, growth and expansion phases. Apart from financial support, the funds will also help entrepreneurs access resources offered by Alibaba’s ecosystem including e-commerce, logistics, mobile platforms to cloud computing and financial services.
Cindy Chow, a Senior Director of International Finance at Alibaba, will serve as the Executive Director of the Fund in Hong Kong. Andrew Lee, former Chief Financial Officer of EnTie Bank, will serve as Executive Director of the Taiwan Fund. US$125 million has been earmarked for the Hong Kong Fund, while US$300 million has been allocated to the Taiwan Fund.
Source: Business Strategies Group Hong Kong – www.bsgasia.com