Alibaba, the Chinese e-commerce company, had a nasty investigation in February. The former CEO of Alibaba, David Wei, has left and is now raising a $200 million investment fund for his new firm, Vision Knight Capital Partners, focusing on China’s red-hot e-commerce, retail and consumer goods sectors.
And he’s teaming up with his former boss and one of China’s richest men, Jack Ma, the founder and chairman of Alibaba, which is partly owned by Yahoo Inc. Ma is providing some of the money as a limited partner. Wei says his fund will look to back deals from other investors’ portfolios in an effort to turn them around using the operating experience he gained from years spent working in China’s consumer goods industry.
What happened to having a clean track record and not being able to raise capital if there is an ongoing investigation? That is proof of the fast, expanding market that is called Asia. There is so much to gain since you are not taking market share from other companies - just filling a void.