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Alibaba invests in 3 firms through Hong Kong Entrepreneurs Fund

Alibaba GroupHolding Ltd. is investing in three early-stage companies inHong Kong through its nonprofit Hong Kong EntrepreneursFund, Enterprise Innovation reported May 7.

The companies selected are YEECHOO, an online rentalbusiness for designer apparel; Shopline, a cloud-based platform for e-commercevendors; and GoGoVan, an online, intra-city logistics platform that provideson-demand delivery service.

In addition to receiving minority investments from the fund,the three companies will also be able to leverage Alibaba's resources in theirefforts to expand into other markets.

The Hong Kong Entrepreneurs Fund, which was established lastNovember, has so far received more than 200 applications from companies indifferent stages of development.