AEF Celebrates a Decade of Impact, Strengthening Hong Kong’s Role as a Super Connector and Championing Sustainable Innovation

Hong Kong, China, November 19, 2025 – Alibaba Hong Kong Entrepreneurs Fund ("AEF") today announces its 10th anniversary, marking a decade of empowering entrepreneurs and sparking innovation across Hong Kong and beyond. Over the past decade, AEF has propelled itself from a local startup catalyst to a global force in the innovation and technology sector. Its investments have surged to US$94 million, while its portfolio has grown from six Hong Kong companies in 2016 to 84 ventures spanning the globe now, demonstrating the continued effectiveness of its strategy and its powerful impact on the startup ecosystem.

Launched the same year as the Hong Kong Innovation and Technology Bureau in 2015, AEF was founded to play an integral role in the city's dynamic startup ecosystem, driving impact locally and beyond. As a not- for-profit initiative of Alibaba Group, AEF operates similarly to traditional venture capital funds when it comes to investment decisions, with a professional investment team identifying outstanding projects and leveraging Alibaba Group’s resources to fuel their success. What makes AEF distinguished is that after exit, AEF reinvests all invested capital and returns to fund the next wave of innovation, creating a sustainable engine for growth. This commitment has yielded exceptional results. To date, AEF has supported the rise of 7 unicorns, including Hong Kong's first NASDAQ-listed unicorn. By attracting co-investment of over US$2.8 billion with global partners, it has helped create more than 2,200 jobs in Hong Kong, vetting over 13,400 business plans to identify and nurture the most promising trailblazers. Leveraging Alibaba’s global network and ecosystem, AEF’s mandate has expanded from Hong Kong to the Greater Bay Area and now to the world, committed to fostering and bringing the best startups and brightest talent to Hong Kong and positioning the city as a leading destination for innovation.

“Since 2015, Alibaba Entrepreneurs Fund has been a testament to our unwavering commitment in fostering innovation and championing the entrepreneurial spirit from Hong Kong and beyond. We are proud to have witnessed the remarkable growth and resilience of local startups, which continues to turn innovation into real-world impact. Alibaba is not only backing the next generation of entrepreneurs but also engineering the ecosystems allowing scalability and enabling a digital future with intrinsic value created for society,” said Mr. Joe Tsai, Co-Founder & Chairman of Alibaba Group.
“Over the past decade, AEF has championed a new paradigm for entrepreneurship, one rooted in Hong Kong’s spirit of connectivity and Asia’s boundless potential. This vision allows us to create a platform that accelerates businesses while amplifying Hong Kong’s role as a global innovation hub. Acting as both partner and mentor for cutting-edge startups, we’ve witnessed technological shifts firsthand in the region. This frontline perspective compelled us to evolve our strategy—pioneering a deliberate shift from an early focus on e-commerce to leading the charge in AI applications through our latest investment in AEF NextGen Fund. Now that we stand at the forefront of this AI-powered era, we will leverage the full strength of the Alibaba ecosystem to empower a new generation of entrepreneurs.” said Cindy Chow, Executive Director & CEO of Alibaba Hong Kong Entrepreneurs Fund.

AEF’s Active Role in AI-Startup Growth Beyond Capital
AEF stands apart by offering much more than capital investment. With a forward-looking vision for AI, AEF launched HKAI Lab in 2018 to accelerate the development of deep tech startups. This move marks a shift from simply investing capital to actively cultivating innovation. Portfolio companies benefit from unparalleled access to Alibaba AI experts, DAMO Academy capabilities and the broader Alibaba ecosystem. This hands- on support provides insights into industry-scale challenges and real-world data applications, enabling them to commercialize innovations and expand into new markets at speed.

Nurturing the Next Generation of Leaders Through Ecosystem Cultivation
AEF understands community is the engine of the future. Exemplified by flagship initiatives, AEF’s staunch commitment to entrepreneurship shines through JUMPSTARTER, Asia’s leading startup and tech event. Since its inception, the event has attracted over 550,000 attendees, 8,100+ startups, and 2,300+ investors, corporates, and industry experts from more than 70 regions and countries. As entrepreneurs gear up for JUMPSTARTER 2026, AEF received 650 global entries from 53 regions and countries for the global pitch competition, reflecting Hong Kong’s growing reputation as a premier hub for innovation and technology.

In addition, through the SEED Foundation, AEF is providing Hong Kong's secondary school students equal access to future skills through foundational digital skills training programs. Since its establishment in 2021, SEED Foundation has provided over 74,000 hours of on-campus training to over 3,700 students from 180 schools. Initiatives like the "IdeaPOP!" competition challenge students to solve real issues in the societies like an entrepreneur. This approach resonates powerfully, with the 2025 edition attracting a record 168 team with nearly 700 student registrations in its four-year history.

As AEF strides towards the future, the achievements of the past decade have laid a strong foundation for Hong Kong’s innovation ecosystem. Looking ahead, the next ten years hold even greater promise. With new investment, expanded global ambitions, and a continued commitment to reinvesting in future talent and ideas, AEF is set to play an even more crucial role in shaping the region’s entrepreneurial landscape. About Alibaba Hong Kong Entrepreneurs Fund
Alibaba Hong Kong Entrepreneurs Fund ("AEF") is a mission-driven initiative launched by Alibaba Group in 2015. To vitalize the development of innovation and technology, AEF's mission is to help Hong Kong entrepreneurs and young people realize their dreams and visions for a Hong Kong that is vibrant and engaged regionally and globally. As part of its investment program, AEF provides entrepreneurs with investment capital and strategic guidance to help them grow their businesses and penetrate the mainland Chinese and global markets, by utilizing Alibaba's Ecosystem. For more information, please visit the website: https://www.ent-fund.org/en/

For further information, please contact:
Sonia Cheng
TEAM LEWIS
Tel：+852 9445 9013
Email: sonia.cheng@teamlewis.com