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Alibaba launches $150m fund for AI startups
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Alibaba launches $150m fund for AI startups

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The Alibaba Hong Kong Entrepreneurs Fund (AEF) has announced the establishment of the AEF NextGen Fund, a venture fund totaling US$150 million.

This initiative aims to support startups using AI to tackle industry challenges.

The NextGen Fund targets growth-stage startups across various sectors, including financial services, consumer retail, healthcare, construction, properties, and arts and entertainment.

Since 2015, AEF has invested over US$100 million in more than 80 startups while leveraging an additional US$2.8 billion in co-investment funding.

Recent Alibaba developments

Timeline
16-Dec-2024 🛍️ Alibaba said to sell its department store chain Intime Retail
  • Alibaba plans to sell Intime Retail chain.
  • This ends Alibaba’s seven-year ownership.
15-Dec-2024 🧠 Alibaba, Tencent, Huawei, other execs join China’s AI committee
  • China forms AI standards committee with 41 members
  • Committee aims to create 50 AI standards by 2026
05-Dec-2024 🤖 Alibaba Cloud expands AI ecosystem through 2025
  • Alibaba Cloud launches AI Alliance Accelerator.
  • New partnership with Telkom Indonesia announced.
04-Dec-2024 💸 Alibaba invests over $70m in South Korea’s fashion platform
  • Alibaba invests $70.7M in K-fashion platform Ably
  • Ably valued at $2.1B, hits unicorn status
29-Nov-2024 💰 Alibaba-backed Turkish ecommerce firm said to seek $1b
  • Trendyol plans to raise $1 billion for growth
  • Initial talks with investors may begin next quarter

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