Yunfeng Capital

Yunfeng Capital (YF Capital; Chinese: 云锋基金; pinyin: 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).^[3]

Yunfeng Capital Limited

Native name	云锋基金
Company type	Private
Industry	Investment management
Founded	2010
Founders	Jack Yun Ma David Feng Yu
Headquarters	Shanghai, China
Products	Private equity Venture capital
AUM	US$20 Billion (2021)[1]
Subsidiaries	Yunfeng Financial Group
Website	www.yfc.cn
Footnotes / references [2]

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.^[3][4][5] 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".^[6]

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.^[7]

Yunfeng Capital is headquartered in Shanghai with additional offices in Beijing, Hangzhou and Hong Kong.^[8]

Notable investments include Kuaishou,^[9] Xiaomi,^[10] XPeng^[11] and Youku.^[8]

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.^[12][13]

In November 2016 Reorient Group Limited was renamed to Yunfeng Financial Group.^[14] 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^[15] which was completed in November 2018.^[16] In March 2019, the unit was rebranded to YF Life.^[17]

As of 2021, 47% of the group's shares are effectively owned in aggregate by David Yu and Yunfeng Capital.^[18]