Jack Ma bucks China private equity downturn, raises $2.5bn

What are the chance of a China-born private equity fund successfully closing a multibillion-dollar fundraising, especially as liquidity notably dries up For most, the odds are extremely long.

But when you take the Alibaba founder’s influence into consideration, it may be a different story.

Yunfeng Capital, a Shanghai-headquartered private equity firm co-founded by Jack Ma, disclosed on Tuesday that it had closed the $2.5 billion fundraising. According to a filing to the US Securities and Exchange Commissionits, the cash will add dry powder to its Yunfeng Fund III, incorporated in November 2017.

Co-founded by the Chinese e-commerce guru and...