HONG KONG -- Ant Financial, an affiliate of Chinese technology giant Alibaba Group Holding, is planning to raise about $1 billion for a new fund to expand investments in emerging markets including India and Southeast Asia, according to a company executive.
The planned billion-dollar fund, whose name can roughly be translated as Ant Unicorn Fund, will focus on the "strategic businesses" of Ant Financial, including technologies and specific use cases related to online payments, said Ji Gang, vice president of Ant Financial, in an interaction with DealStreetAsia on the sidelines of the 4th Global Entrepreneurs Summit.
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