Greater Bay Area: Alibaba backs HK$2 billion fund for start-ups in and around Hong Kong

July 13, 2021 | South China Morning Post | In the News
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Alibaba Group Holding’s Hong Kong Entrepreneurs Fund (AEF) will be an anchor investor in a HK$2 billion (US$257 million) fund to support start-ups in the Greater Bay Area (GBA) of Hong Kong, Macau as well as parts of Guangdong province in a vote of confidence for Hong Kong’s role in promoting entrepreneurship in the region.

The AEF Greater Bay Area Fund (GBA Fund) will target start-ups in the region that focus on sustainability, deep tech, health tech, artificial intelligence, automation and digital transformation of traditional manufacturing, according to a company statement on Tuesday.

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