Ma Yun fund invests in Yili subsidiary

A fund co-founded by Jack Ma Yun, chairman of Chinese e-commerce juggernaut Alibaba Group, will invest in a livestock breeding company under dairy producer Inner Mongolia Yili Industrial Group Co Ltd, news portal people.com.cn reported over the weekend.

Yunfeng Capital, the fund co-founded by Ma, and CITIC Private Equity Funds Management Co will invest more than 2 billion yuan ($322.04 million) in Yili's breeding subsidiary for a 60 percent stake in the firm. Yili will own 40 percent of the company after the transaction.