Alibaba Picks Gobi to Manage $130 Million Hong Kong Startup Fund

  • Lan Kwai Fong chairman Allan Zeman among those joining board
  • Vice Chairman Joseph Tsai says fund won't be a charity

Alibaba Group Holding Ltd. set up a HK$1 billion ($130 million) fund to invest in Hong Kong’s startups, underscoring co-founder Jack Ma’s intentions to galvanize entrepreneurship among youths and support small businesses.

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