Skip to content
Subscriber Only

Ant Financial to Raise a $1 Billion Startup Investment Fund

  • The fund will focus on startups in Southeast Asia, India
  • Ant wants to invest in payments, risk control startups
An employee works at a reception counter in the lobby of the Ant Financial headquarters in Hangzhou.

An employee works at a reception counter in the lobby of the Ant Financial headquarters in Hangzhou.

Photographer: Qilai Shen/Bloomberg

Billionaire Jack Ma’s Ant Financial is planning to raise about $1 billion for a fund that will invest in startups from Southeast Asia to India and help strengthen its foothold in fast-growing mobile internet markets, a person familiar with the matter said.

The internet finance company is looking to back more startups in those regions that focus on payments and online finance, the person said, confirming a DealStreet Asia report. Ant Financial Vice President Ji Gang told attendees at a Beijing conference Tuesday that his company was looking to raise a fund, but didn’t specify the amount nor potential targets, according to a blogpost by the conference organizers. Ant Financial declined to comment in an emailed statement.