Alibaba’s $130 millionfund to invest in Hong Kong’s GoGoVan

Hong KongNikkei — HONG KONG — China’s e-commerce giant Alibaba Group Holding is set to provide venture capital for GoGoVan, an online logistics platform based in Hong Kong. Through its Hong Kong Entrepreneurs Fund, a not-for-profit initiative launched last year, Alibaba joins private equity firm New Horizon Capital, venture capitalist Hotung Investment Holdings, and media heavyweight Singapore Press Holdings, along with existing investors, in GoGoVan’s third injection of investment capital, also known as “Series C”, completed on Thursday.

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