Hong Kong, 13th July: The Alibaba Hong Kong Entrepreneurs Fund (AEF), launched by the Alibaba Group in 2015, is a not-for-profit initiative dedicated to supporting entrepreneurs in the Greater Bay Area (GBA).

A new venture fund, dubbed the AEF Greater Bay Area Fund (GBA Fund), is targeting a final close before June 2022 with a funding package of HK$2 billion (about US$260 million), which will include capital commitments and credit facilities. In addition to GBA entrepreneurs, the fund will also benefit Hong Kong-based start-ups planning to expand into the region, with a key focus on sustainability, deep tech, health tech, artificial intelligence and Industry 4.0 related projects.