Alibaba Hong Kong Entrepreneurs Fund (AEF) celebrates its tenth anniversary and announces an investment of 0.15 billion dollars to establish a new AEF NextGen fund, managed by the AEF investment team NextGen Partners, focusing on investing in AI startup companies.
The AEF NextGen fund will focus on investing in startups that use AI to solve structural problems, covering industries where AI can be deeply applied, including financial services, consumer retail, medical care, construction and real estate, as well as the arts and entertainment sectors. Additionally, the fund will provide a network of resources and expertise needed for global expansion to growth-stage companies with a certain level of product-market fit.
The CEO of Alibaba Hong Kong Entrepreneurs Fund and partner at NextGen Partners, Zhou Luomeiqi, stated that with the help of Alibaba's ecosystem, it is expected that the invested companies can further strengthen their advantages.
