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Jack Ma's Ant Financial plans to raise about $1 billion for start-ups

The firm is looking to back more start-ups in those regions that focus on payments and online finance, the person said, confirming a DealStreet Asia report

Bloomberg 

Jack Ma (Photo: Reuters)
Jack Ma (Photo: Reuters)

Billionaire Jack Ma’s is planning to raise about $1 billion for a fund that will invest in start-ups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a source said.
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The firm is looking to back more start-ups in those regions that focus on payments and online finance, the person said, confirming a DealStreet Asia report. V-P Ji Gang told attendees at a conference that his firm was looking to raise a fund, but didn’t specify the amount. declined to comment.

First Published: Wed, November 27 2019. 03:25 IST
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