Yunfeng Capital
{{Short description|China-based private equity firm}}
{{Use dmy dates|date=December 2023}}
{{Infobox company
| name = Yunfeng Capital Limited
| native_name = 云锋基金
| logo = YF Capital Logo.png
| type = Private
| industry = Investment management
| predecessor =
| foundation = 2010
| founders = Jack Yun Ma
David Feng Yu
| products = Private equity
Venture capital
| assets =
| subsid = Yunfeng Financial Group
| homepage = [http://www.yfc.cn/ www.yfc.cn]
}}
Yunfeng Capital (YF Capital; {{Zh||s=云锋基金|p=Yúnfēng jījīn}}) is a Shanghai-based private equity firm founded in 2010. It was founded by Jack Ma (founder and former executive chairman of Alibaba) and David Yu (founder of Target Media).{{Cite news |last1=Aldred |first1=Stephen |last2=Miller |first2=Matthew |date=17 July 2014 |title=Exclusive - Red flags: Alibaba's Ma and Ma's private equity firm |url=https://www.reuters.com/article/us-alibaba-yunfeng-idUSKBN0FL17220140717 |archive-date=2 June 2021 |archive-url=https://web.archive.org/web/20210602215509/https://www.reuters.com/article/us-alibaba-yunfeng-idUSKBN0FL17220140717 |url-status=live |language=en |publisher=Reuters |access-date=30 May 2021}}
Background
Yunfeng Capital was founded in 2010 by Jack Ma and David Yu. 'Yunfeng' is the result of combining the Chinese first names of Jack (Yun) Ma and David (Feng) Yu.{{Cite web |last=Chen |first=Eliot |date=2021-09-12 |title=Who is Yunfeng Capital? |url=https://www.thewirechina.com/2021/09/12/who-is-yunfeng-capital/ |access-date=2024-06-21 |website=The Wire China |language=en-US}}{{Cite web |title=David Yu |url=https://english.ckgsb.edu.cn/story/david-yu-co-founder-and-ceo-of-yunfeng-capital-and-one-of-chinas-most-successful-venture-capitalists/ |access-date=2024-06-21 |website=CKGSB |language=en-US}} Ma currently owns 40% of Yunfeng Capital although the firm has issued a statement that states "is not involved in the decision-making or operation". {{Cite news |last=Forsythe |first=Michael |last2=Northrop |first2=Katrina |last3=Chen |first3=Eliot |date=2024-07-21 |title=The Billionaire Criminal Who Secretly Profited Off Jack Ma’s Deals |url=https://www.nytimes.com/2024/07/21/world/asia/jack-ma-xiao-jianhua.html |access-date=2024-09-11 |work=The New York Times |language=en-US |issn=0362-4331}}
The firm focuses on early and growth stage investments in companies from various sectors such as technology, healthcare, financial services and media. In addition, it provides consultation and advisory services to its selected portfolio companies.
In October 2022, The Information reported the firm was struggling to raise money in China due to domestic investors being concerned on the political risks of backing a firm affiliated with Ma.{{Cite web |title=Jack Ma's Investment Firm Struggles to Raise Money in China |url=https://www.theinformation.com/articles/jack-mas-investment-firm-struggles-to-raise-money-in-china |access-date=25 March 2023 |website=The Information |archive-date=25 March 2023 |archive-url=https://web.archive.org/web/20230325031115/https://www.theinformation.com/articles/jack-mas-investment-firm-struggles-to-raise-money-in-china |url-status=live }}
Yunfeng Capital is headquartered in Shanghai with additional offices in Beijing, Hangzhou and Hong Kong.{{Cite web|last=Team|first=Investment Research|date=10 May 2014|title=Alibaba Commits $100M To Yunfeng Capital Fund|url=https://www.chinamoneynetwork.com/2014/05/10/alibaba-commits-100m-to-yunfeng-capital-fund|access-date=30 May 2021|website=China Money Network|language=en-US|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602214651/https://www.chinamoneynetwork.com/2014/05/10/alibaba-commits-100m-to-yunfeng-capital-fund|url-status=live}}
Notable investments include Kuaishou,{{Cite web |date=3 December 2019 |title=Tencent leads Kuaishou's USD 3 billion pre-IPO round with Jack Ma-backed Yunfeng Capital in tow |url=https://kr-asia.com/tencent-leads-kuaishous-usd-3-billion-pre-ipo-round-jack-ma-backed-yunfeng-capital-also-joins |access-date=30 May 2021 |website=KrASIA |language=en |archive-date=3 June 2021 |archive-url=https://web.archive.org/web/20210603023325/https://kr-asia.com/tencent-leads-kuaishous-usd-3-billion-pre-ipo-round-jack-ma-backed-yunfeng-capital-also-joins |url-status=live }} Xiaomi,{{Cite web |title=Jack Ma's Yunfeng Capital in the market to raise new PE fund |url=https://www.dealstreetasia.com/stories/yunfeng-capital-pe-fund-234450/ |access-date=30 May 2021 |website=DealStreetAsia |language=en-US |archive-date=2 June 2021 |archive-url=https://web.archive.org/web/20210602215019/https://www.dealstreetasia.com/stories/yunfeng-capital-pe-fund-234450/ |url-status=live }} XPeng{{Cite web |date=19 October 2021 |title=Flying car start-up HT nails US$500 million in Asia’s biggest funding deal |url=https://www.scmp.com/business/companies/article/3152904/xpeng-backed-ht-aero-secures-us500-million-asias-largest |access-date=15 October 2023 |website=South China Morning Post |language=en |archive-date=7 November 2023 |archive-url=https://web.archive.org/web/20231107192940/https://www.scmp.com/business/companies/article/3152904/xpeng-backed-ht-aero-secures-us500-million-asias-largest |url-status=live }} and Youku.
Yunfeng Financial Group
In 2015, Yunfeng Capital (through Yunfeng Financial Holdings and several other investment vehicles) acquired Reorient Group Limited, a brokerage firm listed in Hong Kong.{{Cite web|date=15 May 2015|title=Jack Ma pays HK$2.7 billion for 56pc of HK brokerage Reorient|url=https://www.scmp.com/business/companies/article/1797518/jack-ma-pays-hk27-billion-56pc-hk-brokerage-reorient|access-date=30 May 2021|website=South China Morning Post|language=en|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602213150/https://www.scmp.com/business/companies/article/1797518/jack-ma-pays-hk27-billion-56pc-hk-brokerage-reorient|url-status=live}}{{Cite web|last=Team|first=Investment Research|date=15 May 2015|title=Yunfeng Leads 81% Stake Purchase In Hong Kong's Reorient Group|url=https://www.chinamoneynetwork.com/2015/05/15/yunfeng-leads-81-stake-purchase-in-hong-kongs-reorient-group|access-date=30 May 2021|website=China Money Network|language=en-US|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602214242/https://www.chinamoneynetwork.com/2015/05/15/yunfeng-leads-81-stake-purchase-in-hong-kongs-reorient-group|url-status=live}}
In November 2016 Reorient Group Limited was renamed to Yunfeng Financial Group.{{Cite web|date=9 November 2016|title=Change of Company Name, New Stock Short Name, Website Address and Logo of the Company |url=https://www1.hkexnews.hk/listedco/listconews/sehk/2016/1104/ltn20161104563.pdf |archive-url=https://web.archive.org/web/20210602214644/https://www1.hkexnews.hk/listedco/listconews/sehk/2016/1104/ltn20161104563.pdf |archive-date=2 June 2021 |url-status=live |publisher=Hong Kong Exchanges and Clearing Limited |access-date=30 May 2021}} Yunfeng Financial Group is listed on the Stock Exchange of Hong Kong (ticker symbol: 376).
In August 2017, the group agreed to acquire the Asia unit of MassMutual for US$1.7 billion{{Cite web|date=18 August 2017|title=Jack Ma-supported Yunfeng buys MassMutual's Asian unit|url=https://www.scmp.com/business/companies/article/2107273/jack-ma-backed-yunfeng-financial-buys-asia-unit-massmutual-us17|access-date=30 May 2021|website=South China Morning Post|language=en|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602220305/https://www.scmp.com/business/companies/article/2107273/jack-ma-backed-yunfeng-financial-buys-asia-unit-massmutual-us17|url-status=live}} which was completed in November 2018.{{Cite web|date=3 December 2018|title=Jack Ma-backed brokerage grows portfolio with insurance products|url=https://www.scmp.com/business/banking-finance/article/2176024/jack-ma-backed-yunfeng-broadens-financial-services|access-date=30 May 2021|website=South China Morning Post|language=en|archive-date=30 December 2021|archive-url=https://web.archive.org/web/20211230013203/https://www.scmp.com/business/banking-finance/article/2176024/jack-ma-backed-yunfeng-broadens-financial-services|url-status=live}} In March 2019, the unit was rebranded to YF Life.{{Cite web|title=YF Life Celebrates New Brand Launch and Takes up Title Sponsorship of "Pretty Crazy Joey Yung Concert Tour" {{!}} YF Life|url=https://corp.yflife.com/en/content/2835#:~:text=YF%20Life%20Insurance%20International%20Ltd,as%20from%20March%2023,%202019.|access-date=30 May 2021|website=corp.yflife.com|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602215141/https://corp.yflife.com/en/content/2835#:~:text=YF%20Life%20Insurance%20International%20Ltd,as%20from%20March%2023,%202019.|url-status=live}}
As of 2021, 47% of the group's shares are effectively owned in aggregate by David Yu and Yunfeng Capital.{{Cite web|title=Hong Kong Exchanges and Clearing Limited|url=https://di.hkex.com.hk/di/NSAllSSList.aspx?sa2=as&sid=717&corpn=Yunfeng+Financial+Group+Ltd.&sd=30/05/2020&ed=30/05/2021&cid=0&sa1=cl&scsd=30/05/2020&sced=30/05/2021&srchCorpName=Yunfeng&cn=1&src=MAIN&lang=EN&|access-date=30 May 2021|website=di.hkex.com.hk|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602214744/https://di.hkex.com.hk/di/NSAllSSList.aspx?sa2=as&sid=717&corpn=Yunfeng+Financial+Group+Ltd.&sd=30/05/2020&ed=30/05/2021&cid=0&sa1=cl&scsd=30/05/2020&sced=30/05/2021&srchCorpName=Yunfeng&cn=1&src=MAIN&lang=EN&|url-status=live}}
References
{{reflist}}
External links
- [http://www.yfc.cn Company website]
- [http://www.yff.com Yunfeng Financial website]
{{Private equity and venture capital}}
{{authority control}}
Category:Chinese companies established in 2010
Category:Financial services companies established in 2010
Category:Investment management companies of China