Jack is back.
Chinese billionaire Jack Ma’s private equity firm secretly led the latest funding round for Corgi, marking the first time the firm is known to have invested in a startup founded in the US.
Yunfeng Capital, co-founded by Jack Ma and businessman David Yu, funded Corgi with about $30 million, according to a source familiar with the matter and correspondence seen by Business Insider. That round valued Corgi at $4 billion, Forbes previously reported last month.
Corgi is an AI business insurance startup that was part of Y Combinator’s summer 2024 cohort. It’s one of the hottest startups in San Francisco, with its valuation almost…
Read the full article at BUSINESSINSIDER.COM
