PE fund to back cloud computing developers
By Ding Yining |
October 25, 2011, Tuesday
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Print Edition
Print Edition
YUNFENG Ventures, a private-equity firm, yesterday launched a 100 million yuan (US$15.7 million) fund to support cloud computing developers and start-up firms.
Software developers will be able to use the fund to develop products and services and introduce them to Alibaba's cloud computing mobile phone operation system.
Yunfeng Ventures is a private equity set up by Alibaba Group chairman Jack Ma and Target Media founder Yu Feng that focuses on the Internet industry.
The fund's setup is further step for Alibaba to boost its mobile Internet services and to increase investment in the sector. In July, Alibaba Group teamed up with local mobile phone maker K-touch to launch smartphone models equipped with a tailor-made operation system to provide more e-commerce applications to China's growing mobile Internet users.
Alibaba had said it hoped to establish an open platform that will bring Internet-based services to mobile phone users conveniently.
Software developers will be able to use the fund to develop products and services and introduce them to Alibaba's cloud computing mobile phone operation system.
Yunfeng Ventures is a private equity set up by Alibaba Group chairman Jack Ma and Target Media founder Yu Feng that focuses on the Internet industry.
The fund's setup is further step for Alibaba to boost its mobile Internet services and to increase investment in the sector. In July, Alibaba Group teamed up with local mobile phone maker K-touch to launch smartphone models equipped with a tailor-made operation system to provide more e-commerce applications to China's growing mobile Internet users.
Alibaba had said it hoped to establish an open platform that will bring Internet-based services to mobile phone users conveniently.
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