China-based e-commerce corporation Alibaba has invested $100m as a limited partner in private equity firm Yunfeng Capital’s second US dollar denominated fund, China Money Network has reported, citing a regulatory filing.
The fund reached a $600m first close earlier this year, and China-based Yunfeng is reportedly targeting a $1bn fundraise by June.
Yunfeng, of which Alibaba chairman Jack Ma is a co-founder, recently partnered with Alibaba for a $1.22bn investment in video streaming service Youku Tudou, and the two also teamed up to acquire a 54% stake in pharmaceutical data provider Citic 21CN in January for $171m.
The filing also stated that Yunfeng will partner with Alibaba for strategic investments again in future. Yunfeng and Alibaba previously launched a $157m fund in 2011 to invest in cloud computing companies and mobile app developers developing products based around Alibaba’s operating system.