Jack Ma: Is there a single family office?

list of largest single family offices asia china investments jack ma

Where does the fortune of Jack Ma come from?

Jack Ma is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate specializing in e-commerce, retail and Internet. The company provides C2C, B2C and B2B sales services via web portals, as well as electronic payment services, shopping search engines and cloud computing services. It owns and operates a diverse portfolio of companies around the world in numerous business sectors. Its $25 billion IPO in 2014 then was the largest IPO in world history, contributing to Jack Ma’s estimated net worth of $48.8 billion in 2021, making him the 3rd richest person in China right after Zhong Shanshan and Ma Huateng.

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How did Ma’s company Alibaba Group develop?

In 1999, Jack Ma and 17 friends and students founded Alibaba.com, a China-based B2B marketplace site, in his apartment. In October 1999, Alibaba received a $25 million investment from Goldman Sachs and SoftBank. Alibaba.com was expected to improve the domestic e-commerce market and perfect an e-commerce platform for Chinese enterprises, especially small and medium-sized enterprises, to help export Chinese products to the global market. In 2002, Alibaba.com became profitable three years after launch. Jack Ma wanted to improve the global e-commerce system, so from 2003 onward, Alibaba launched Taobao Marketplace (“Chinese eBay”), Alipay, Alimama.com, and Lynx. The Group constantly expanded its business through various acquisitions and venture capital investments (e.g. Lyft). In 2014, Alibaba held its IPO, securing $25 billion of new funds and valuing the business at $230 billion. Today, the company employs more than 120,000 people and generates revenues of $72 billion.

Is there a Jack Ma family office?

Yes. Given Alibaba’s and Jack Ma’s role in venture capital investments, it is not surprising that Jack Ma doesn’t have only one single family office, in fact, he has two. Together with David Yu, Jack Ma owns YF Capital (located in Shanghai). Blue Pool Capital is an investment firm and single family office of Joe Tsai and Jack Ma (located in Hong Kong).

How does the Jack Ma family office invest?

Blue Pool Capital heavily focuses on venture capital investments. Areas of interest are healthcare, internet, technology and platforms. Exemplary investments include Brii Biosciences and Grail. YF Capital also focuses on venture capital in the fields of Internet, technology, healthcare, entertainment, finance and logistics, but also looks for private equity investment opportunities. Its portfolio includes, for example, Ant Financial and Cainiao. Both single family offices invest their funds directly, but also through funds.

This article is part of our detailed report “The Single Family Offices of Asian Billionaires and HNWIs“.

Picture source: Card Mapr NL

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