Yun Feng raises $1.52 billion fund
Yun Feng Capital, a Chinese private equity fund co-founded by internet business guru Jack Ma, has raised around RMB10 billion ($1.52 billion) for its first fund, co-founder and Chairman David Yu told local media.
Established in April 2010, the firm focuses on investing in internet, consumer and new energy firms in China.
Management of Yun Feng has strong networks among internet businesses through businesses such as Alibaba.com and Target Media, both of which Ma and Yung formed. Yung previously held the position of President at Focus Media. The firm has already made investments in Tencent Holdings, the Hong Kong-listed online game operator in China. It has also taken a 16% stake in Sohu.com, China's number-two internet portal, which owns Soguo.com, a Chinese search engine launched in August 2004.
Other founders of Yun Feng Caital including Shi Yuzhu, Chairman of Giant Interactive Group Inc, Liu Yonghao, a Chairman at New Hope Group, and China Dongxiang Co.’s Chairman Chen Yihong.
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