Alibaba’s Greater Bay Area Fund Raises HK$2 Billion, Previously Invested in Animoca Brands

Odaily Planet Daily News Gobi Partners recently announced that it has completed the equivalent of 2 billion Hong Kong dollars (255.9 million U.S. dollars) for the Alibaba-backed fund, which is committed to investing in the Greater Bay Area in southern China. Tang Qibo, managing partner of Gobi Greater Bay Area, said that the new fund, named AEF Greater Bay Area Fund (GBA), will remain open until the end of this year to receive support from more LPs. The AEF GBA Fund takes the Alibaba Hong Kong Entrepreneurs Fund (AEF), a non-profit foundation under the e-commerce giant Alibaba Group, as the main investor and invests in the Guangdong-Hong Kong-Macau Greater Bay Area, covering China's Hong Kong Special Administrative Region, Macao Special Administrative Region and China Nine cities in southern Guangdong province. Since 2021, the AEF GBA fund has backed companies such as Hong Kong-based blockchain game developer Animoca Brands, insurtech startup OneDegree and clinical-stage biotech company Immuno Cure. The fund also continues Gobi's investment in virtual reality company Sandbox VR. (Viewpoint Network)