Alibaba Entrepreneurs Fund

What Alibaba Entrepreneurs Fund does

Alibaba Entrepreneurs Fund (AEF) is a not-for-profit initiative of Alibaba Group, founded in 2015 and headquartered in Causeway Bay, Hong Kong, with a parallel Taiwan operation in Taipei. AEF provides investment capital and strategic guidance to Hong Kong-, Taiwan-, and Greater Bay Area-nexus startups, operating three core investment vehicles: the AEF Hong Kong Fund (HK$1 billion / US$130 million pledged in 2015, the first VC fund dedicated to Hong Kong-linked startups), the AEF Greater Bay Area Fund (HK$2 billion programme incorporated in 2021, with US$1-10 million tickets), and the AEF NextGen Fund (US$150 million AI-focused vehicle launched December 2024 and managed by NextGen Partners). Taiwan operations are run through NT$10 billion (US$300M+) of evergreen capital deployed via two appointed external fund managers, CDIB Capital Group and WI Harper Group.

AEF's product surface extends well beyond capital deployment into an integrated ecosystem-enablement platform. JUMPSTARTER, founded in 2016, is the flagship startup pitch competition and tech event, having attracted 550,000 attendees, 8,100+ startups, and 2,300+ investors and corporates from 100+ regions. HKAI Lab (founded 2018 with SenseTime) is Hong Kong's first AI incubator and has accelerated 130+ AI startups with GPU compute and mentorship. Additional programs include Venture Hours (mentorship), SEED Foundation (youth ICT education charity established 2021), AEF Youth (IdeaPOP!, RoboMaster, JA x AEF GoDigital), and the AEF SparkUp content hub. Since 2015, AEF has directly invested US$94 million across 84 portfolio companies, supported 7 unicorns (Airwallex, GoGoX, Prenetics, WeLab, Sandbox VR, Shopline, and others), facilitated US$2.8 billion in co-investment from global investors, and produced HK's first NASDAQ-listed health tech unicorn (Prenetics, 2022).

AEF operates on a sustainable evergreen reinvestment model rather than a conventional 7-10 year VC fund structure. Returns from exits (9 realized investments to date including Shopline 2020, Prenetics NASDAQ 2022, Appier Taiwan IPO) are recycled back into the fund to perpetually support new entrepreneurs. As a not-for-profit, AEF does not charge management fees to portfolio companies in the traditional VC sense; it is entirely funded by Alibaba Group's capital commitments plus reinvested returns. Go-to-market is community-led, with deal flow sourced through direct online applications (13,400 business plans reviewed since 2015), curated by independent investment expert teams in Hong Kong, and managed by appointed external fund managers in Taiwan. AEF is governed by a board chaired by Alibaba Group co-founder Joe Tsai and includes Allan Zeman, Bernard Chan, Annie Fung, and John Kuan, with day-to-day leadership by Executive Director/CEO Cindy Chow.

Name

Alibaba Entrepreneurs Fund

Legal name

The Alibaba Entrepreneurs Fund (comprising The Hong Kong Entrepreneurs Fund Limited and The Taiwan Entrepreneurs Fund Limited)

Website

http://www.ent-fund.org/en/global/home

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Alibaba Entrepreneurs Fund is a not-for-profit Alibaba Group initiative providing investment capital and strategic guidance to Hong Kong, Taiwan, and Greater Bay Area startups via three funds and ecosystem programs including JUMPSTARTER and HKAI Lab, with US$94 million deployed across 84 companies since 2015.

Ownership category

akta.pro rank

Product category

Venture Capital

NAICS

All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industry

Micro-PE / Lower Middle Market ETA Funds (FSANALAG)

Keywords

• Venture capital
• Startup investment
• Seed funding
• AI incubator
• Growth equity

Headquarters

HQ city

Causeway Bay

HQ country

Hong Kong SAR China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Venture Capital Investment Returns: AEF operates a sustainable evergreen model: profits from successful exits (9 realized investments to date, including Shopline 2020 exit) are reinvested back into the fund to perpetually support new entrepreneurs. Includes equity upside from unicorns such as Airwallex, Prenetics (NASDAQ), GoGoX, WeLab, Sandbox VR.
2. Not-for-profit Initiative (No Direct Revenue Generation): Funded by Alibaba Group's commitment (HK$1 billion for HK + NT$10 billion for Taiwan) and reinvested returns. AEF is a mission-driven, non-profit initiative; it does not charge management fees to portfolio companies in the conventional VC sense.
3. Co-investment Capital Deployment: US$2.8 billion co-invested by global investors alongside AEF's capital across 84 portfolio companies, amplifying fund reach without diluting AEF's principal.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Alibaba Entrepreneurs Fund (AEF) is a not-for-profit initiative of Alibaba Group that provides investment capital and strategic guidance to Hong Kong-, Taiwan-, and Greater Bay Area-nexus startups. It operates three evergreen venture funds — the AEF Hong Kong Fund (HK$1B/US$130M), AEF Taiwan Fund (NT$10B), and AEF GBA Fund (HK$2B / US$1-10M tickets) — plus the US$150M AEF NextGen Fund for AI-driven growth-stage startups, complemented by ecosystem programs (JUMPSTARTER, HKAI Lab, Venture Hours, SEED Foundation) and access to the Alibaba Group ecosystem.

Product overview

Alibaba Entrepreneurs Fund (AEF) is a not-for-profit initiative of Alibaba Group, established in 2015 with a HK$1 billion commitment to support Hong Kong and Taiwan entrepreneurs. Rather than a single software product, AEF operates a platform-plus-programs architecture: its core investment vehicles — the AEF Hong Kong Fund, AEF Greater Bay Area Fund, and AEF NextGen Fund — provide capital to startups, complemented by ecosystem-enablement programs including JUMPSTARTER (the flagship startup pitch competition and tech event), HKAI Lab (Hong Kong's first AI incubator co-run with SenseTime), Venture Hours (mentorship/networking), SEED Foundation (youth ICT education charity), AEF Youth programs (RoboMaster, IdeaPOP!, JA x AEF GoDigital, GO-Create Change), and the AEF SparkUp content hub. Together these modules form an integrated startup-investment-and-ecosystem platform spanning Hong Kong, Taiwan, and the Greater Bay Area, with cumulative impact of US$94 million invested across 84 startups, 7 unicorns produced, and US$2.8 billion co-invested by global partners.

Differentiator

Problem solved

Functional benefit

Brands

• AEF Hong Kong Fund: First VC fund dedicated to Hong Kong-nexus startups; seeded with HK$1 billion (US$130 million) from Alibaba Group in 2015; invests in Seed, Series A and beyond startups founded by Hong Kong entrepreneurs or operating in Hong Kong.
• AEF Greater Bay Area Fund (AEF GBA Fund)
• AEF NextGen Fund
• JUMPSTARTER
• HKAI Lab (Hong Kong AI Lab)
• Venture Hours
• SEED Foundation

Products and services

• AEF Hong Kong Fund The flagship investment vehicle of AEF, seeded with HK$1 billion (US$130 million) from Alibaba Group since 2015. Provides Seed to pre-IPO equity capital and strategic guidance to Hong Kong-nexus startups, with direct access to the Alibaba Group ecosystem.
• AEF Taiwan Fund Evergreen venture fund for Taiwan-nexus startups, with NT$10 billion (US$300M+) committed by Alibaba Group. Investment operations are managed by appointed external fund managers CDIB Capital Group and WI Harper Group, each initially managing US$100M.
• AEF Greater Bay Area Fund (AEF GBA Fund) Cross-border regional fund investing in Series B+ startups in Hong Kong and Series A+ startups across the rest of the Greater Bay Area, with single investment tickets of US$1 million to US$10 million. Focus sectors include AI, Industry 4.0, consumer products, fintech, health tech, and sustainability.
• AEF NextGen Fund US$150 million venture fund launched December 2024 and managed by NextGen Partners, investing in AI-driven growth-stage startups solving challenges in Financial Services, Consumer Retail, Healthcare, Construction & Property, and Arts & Entertainment. Provides portfolio companies unique access to the Alibaba ecosystem.
• JUMPSTARTER Annual startup pitch competition and tech event platform created by AEF, providing a venue for entrepreneurs to pitch live, compete for up to US$5 million in investment, and access the Alibaba ecosystem. Has attracted 550,000 attendees, 8,100+ startups, and 2,300+ investors/corporates from 100+ regions and countries.
• HKAI Lab (Hong Kong AI Lab) Non-profit AI incubator co-founded by AEF and SenseTime, supported by HKSTP, Alibaba Cloud, and Alibaba DAMO Academy. Hong Kong's first AI incubator, accelerating 130+ AI startups with mentorship, GPU and cloud compute credits, and a solution-matching program.
• Venture Hours Mentorship and networking program in Hong Kong where aspiring entrepreneurs and startups gain industry knowledge and receive expert business advice from industry professionals.
• SEED Foundation Charitable foundation established by AEF in late 2021 to provide Information and Communications Technology (ICT) education to students from diverse backgrounds, fostering tech interest and future skills among Hong Kong secondary school students.
• AEF Youth / Youth Entrepreneurship Programs Series of youth entrepreneurship programs that inspire entrepreneurship by providing business fundamentals, global perspectives, and networking opportunities, including JUMPSTARTER IdeaPOP!, RoboMaster Youth Challenge (DJI robotics), JA x AEF GoDigital (e-commerce challenge), and GO-Create Change design-thinking boot camps.
• AEF SparkUp Resource and content hub featuring expert views, founder stories, video content, and reports on entrepreneurship, including the joint study "Building Hong Kong as a Cradle for Successful Entrepreneurship" (2024).

Quantifiable outcome

• US$94 million directly invested across 84 portfolio companies since 2015
• +5 more outcomes

Named customers23 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered major event partner, core strategic, flagship co-sponsor, flagship initiative, major ecosystem partner and parent organization.

• LEAP East (Tahaluf / Saudi Arabia MCIT / SAFCSP)major event partnerGTM or Marketing Partner · 8 July 2026AEF is a supporting organization of LEAP East, the inaugural Hong Kong edition of the Saudi-founded LEAP tech summit (July 8-10, 2026, HKCEC), backed by the Hong Kong SAR Government Innovation, Technology and Industry Bureau. Event builds on parent LEAP's USD 820M Riyadh economic impact and brings together investors managing over $2T AUM with $1T deployable capital across AI, fintech, health, green energy, agritech.
• NHC Innovation & stc (Saudi tech giants)major event partnerGTM or Marketing Partner · 14 January 2026LEAP East event partners joining AEF, Elm, ewpartners, Fintech Association of Hong Kong, and VS Partners as confirmed partners. NHC Innovation as Future Tech & Innovation Partner; stc as Digital Enabler. Event will feature 300+ speakers and 300 exhibitors.
• Sunway iLabs (Sunway Group)core strategicStrategic or Co-development Partner · 10 December 2025AEF NextGen Fund entered a strategic partnership with Sunway iLabs to deepen AI collaboration between Malaysia, Hong Kong, and the Greater Bay Area. The partnership creates a two-way bridge enabling AI startups from both regions to access real-world applications, joint R&D, and cross-border market expansion. Positions Sunway iLabs as a regional gateway for deep-tech innovation and grants HK/GBA startups pathways into Malaysia and Southeast Asia.
• HSBC (co-sponsor of JUMPSTARTER for One Earth)flagship co-sponsorGTM or Marketing Partner · 17 December 2024HSBC is a long-standing co-sponsor of the JUMPSTARTER for One Earth Global Pitch Competition. HSBC Commercial Banking also works with AEF to provide venture debt to portfolio companies (e.g., US$10M+ facility for OneDegree/AIFT via HSBC New Economy Fund).
• HKAI Lab (with SenseTime, HKSTP, Alibaba Cloud, Alibaba DAMO Academy)flagship initiativeStrategic or Co-development PartnerHong Kong's first AI incubator jointly invested by AEF and SenseTime, with support from HKSTP, Alibaba Cloud, and Alibaba DAMO Academy. Has accelerated 130+ AI startups with mentorship, GPU compute, cloud credits, and solution matching. Key enabler of AEF's AI investment thesis.
• Hong Kong Cyberportmajor ecosystem partnerStrategic or Co-development PartnerCo-participant at JUMPSTARTER media briefings and ecosystem discussions; operates Cyberport AI Supercomputing Centre and GenA.I. Sandbox++ (jointly launched with HKMA, Oct 2025) for AI governance.
• Hong Kong-Shenzhen Innovation and Technology Park Limited (HSITPL)major ecosystem partnerStrategic or Co-development PartnerCo-participant at JUMPSTARTER 2026 ecosystem briefings alongside AEF and Cyberport; supports cross-border pathways from HK to GBA and international markets for AI startups.
• Hong Kong Science and Technology Parks Corporation (HKSTP)major ecosystem partnerStrategic or Co-development PartnerExclusive Tech Ecosystem Partner for LEAP East Hong Kong debut (July 8-10, 2026, HKCEC); also long-standing supporter of HKAI Lab with SenseTime and AEF.
• Alibaba Group (parent)parent organizationStrategic or Co-development PartnerAlibaba Group is the founding and sole capital sponsor of AEF (HK$1B + NT$10B + US$150M NextGen commitments). Provides AEF portfolio companies direct access to Cainiao logistics, Lazada, WorldFirst, Alibaba Health, Alibaba Cloud, and Alibaba DAMO Academy. Joe Tsai (Alibaba co-founder) sits on AEF's board.

Scale indicators14 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• Cyberport Macro Fund: Hong Kong government's CVC arm investing in HK digital economy and tech startups. Directly comparable as a Hong Kong-headquartered institutional investor with HK nexus thesis and government-backed capital; both compete for the same founder pool and ecosystem partnerships.
• HKSTP Ventures (Hong Kong Science and Technology Parks Corporation): HKSTP operates an investment arm plus incubator programmes for HK-based tech startups and is a long-standing AEF partner. Directly comparable as a HK institutional VC/innovation platform with government support and overlapping deal flow with AEF.
• Horizon Ventures: Hong Kong-based venture firm founded by Solina Chau (Li Ka-shing-affiliated) investing in early-stage tech startups globally with deep HK roots. Directly comparable as a HK-headquartered, founder-friendly early-stage VC competing for the same HK/international founder talent.
• Gobi Partners: Asia-focused VC with Greater Bay Area and SE Asia presence. Directly comparable as a co-investor in multiple AEF portfolio companies (Wristcheck, Xense Robotics) and as a regional VC targeting similar HK/GBA/SE Asia startup segments.
• CDIB Capital Group: Taiwan-based private equity/VC firm that serves as an appointed external fund manager for AEF's Taiwan operations. Directly comparable as a Taiwan-nexus growth-stage investor and AEF's own operating partner managing ~US$100M of AEF capital.
• WI Harper Group: US-Taipei-Beijing cross-border VC with 30+ years' experience; serves as AEF's other appointed Taiwan fund manager. Directly comparable as a Taiwan-focused VC deploying AEF capital and as a peer cross-border early-stage investor with 400+ portfolio companies.
• Wavemaker Partners: Asia-focused early-stage VC operating across SE Asia, US and beyond. Directly comparable as a co-investor in AEF portfolio companies (Lynk) and as an early-stage VC competing for similar SaaS/marketplace founders in Asia.

Broad incumbents

• Openspace Ventures: SE Asia-focused growth-stage VC (Fano Series B lead). Comparable as an Asia-dedicated institutional VC with broader regional mandate; overlaps with AEF through co-investments and similar fintech/AI portfolio themes.
• Ant Group / Ant Fortune Ventures: Alibaba-affiliated fintech group with strategic investments and ecosystem venture activity. Comparable as a sister CVC within the broader Alibaba Group ecosystem that overlaps with AEF's fintech, payments, and digital services portfolio themes.

Emerging players

• 500 Global: Global micro-VC and accelerator with a large early-stage portfolio and emerging-markets reach. Comparable in venture-development model (community-led deal sourcing, accelerator tie-ups) and micro-VC stage focus, though geographically broader than AEF.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/AlibabaEntrepreneursFund
• LinkedInlinkedin.com/company/alibaba-entrepreneurs-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments75 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alibaba Entrepreneurs Fund