Alibaba’s logistics arm gets funded

By Ding Yining | 16:54 UTC+8 June 22, 2017 |

Online Edition

ALIBABA'S logistics affiliate Cainiao Network said it will set up a logistics fund worth 8.5 billion yuan (US$1.2 billion) with China Life Insurance Co to invest in the logistics and warehouse sector with Cainiao Network acting as the general partner of the private equity fund.

Cainiao Network will be responsible for the operation and management of the fund as well as further logistics or commercial property projects, according to an email statement today, without providing the detail for how much each side would pour into the fund.

Cainiao said it hopes to introduce more partners from the financial industry and would continue to serve as a platform where players from all sides would contribute to a smart logistics network.

Cainiao started out as an information service provider that links domestic courier companies with online vendors on Alibaba's retail site Tmall and Taobao with the booming online shopping demand in China contributed to most of China's courier packages.

Cainiao claims the logistics private equity fund would provide stable cash flow for China Life Insurance, which fits well with the insurer's capital investment demand.

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Alibaba’s logistics arm gets funded

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