BAce Capital: An Ant Group-Backed Fund Investing in India and Southeast Asia
BAce Capital is an early-stage venture fund backed by Ant Group, launched with about $100 million by a team with deep Alibaba and Ant Group experience. The firm invests across China, India, and Southeast Asia in mobile internet and consumer technology companies, from seed through series B. Its confirmed early India investments include Healofy, a parenting platform, and Vidooly, a video analytics company.
Overview
BAce Capital is an early-stage venture fund backed by Ant Group. Alibaba and Ant Financial set up the fund with its own separate team. That team brings deep experience from years working inside Alibaba and Ant Group. The fund launched with a corpus of about $100 million. It invests across China, India, and Southeast Asia. Its work centers on mobile internet businesses in emerging markets.
Investment Focus and Stage
BAce Capital backs founders from seed through series B. Its team focuses on mobile internet and consumer technology companies. The firm made an early India investment of $8 million in Healofy. It also backed Vidooly, a video analytics and marketing platform, for $2 million. The firm combines capital with shared industry knowledge and resources.
Fund Size and Portfolio
BAce Capital launched with roughly $100 million in committed capital. Healofy and Vidooly count among its confirmed early India investments. The firm's own materials describe a portfolio of about seven companies. Other public trackers place the count higher, closer to 14 or 22. These differences likely reflect different snapshots in time.
Leadership
BAce Capital operates as a team-led fund rather than a single-founder firm. Its investors bring shared backgrounds from Alibaba and Ant Group. No public source found confirms Benny Chen's specific role at the firm. The team focuses collectively on sourcing and supporting mobile internet founders. Its approach draws on China-based experience applied to emerging markets.