tech
Jack Ma made a $30 million bet on one of San Francisco's hottest AI startups
Yunfeng Capital, led by Jack Ma, quietly invested $30 million in AI startup Corgi, marking a rare deal amidst US-China investment tensions.
TL;DR
- Jack Ma's Yunfeng Capital invested approximately $30 million in US AI startup Corgi.
- This is the first known investment by Yunfeng Capital in a US-founded startup.
- The funding round valued Corgi at $4 billion.
- Corgi is an AI business insurance startup that was part of Y Combinator's summer 2024 cohort.
- The investment occurs amid significant geopolitical tensions between Washington D.C. and Beijing, affecting cross-border tech investments.
- Jack Ma has maintained a lower public profile in recent years, resurfacing in China as the country embraced AI.