Yunfeng Capital, a Chinese investment arm of e-commerce to retail company Alibaba, has secured $50 million in capital commitments for its new co-invest vehicle from retailing company Suning.
The new fund, Yunfeng IK Co-invest fund, also targeted domestic and foreign institutions, enterprises and high net worth individuals. The vehicle has a hard capitalisation of $122 million and is still raising more capital.
With the investment, Yunfeng Capital will strengthen its industrial investment capabilities as well as accelerate smart retail development, creating business synergies hence enriching its ecosystem.
Recently, Yunfeng Capital secured $210 million for its $2.5 billion Yunfeng Fund III.