Jack Ma quietly invested $30 million in Corgi, one of Y Combinator's hottest startups

Aug 06, 2026 12:55 AM - 2 hours ago 3

Jack is back.

Chinese billionaire Jack Ma's backstage equity patient secretly led the latest backing information for Corgi, marking the first clip the patient is known to person invested successful a startup founded successful the US.

Yunfeng Capital, co-founded by Jack Ma and businessman David Yu, funded Corgi pinch astir $30 million, according to a root acquainted pinch the matter and correspondence seen by Business Insider. That information weighted Corgi astatine $4 billion, Forbes antecedently reported past month.

Corgi is an AI business security startup that was portion of Y Combinator's summertime 2024 cohort. It's 1 of the hottest startups successful San Francisco, pinch its valuation almost quadrupling complete the past 3 months. It's best-known for operating a 24-hour café successful San Francisco and touting a 7-day workweek.

Corgi and Yunfeng Capital didn't respond to requests for comment. Ma's charitable instauration and Alibaba besides didn't respond.

Geopolitical tensions betwixt Washington, D.C., and Beijing person made cross-border tech finance progressively fraught.

Publicly, Yunfeng Capital mostly touts Chinese companies successful its portfolio.

It's besides a uncommon overseas stake from Ma, who has kept a overmuch little floor plan successful caller years. The Alibaba cofounder vanished from nationalist position aft criticizing Chinese regulators successful 2020. Last year, Ma reemerged successful China arsenic the country's authorities embraces AI.

China has exerted greater power complete outbound superior and technology, for example, ordering Meta to unwind its acquisition of AI supplier startup Manus.

The US has besides tightened scrutiny of Chinese finance done the Committee connected Foreign Investment successful the United States.

Prior to the tensions, Alibaba actively invested successful US companies, including Lyft successful 2014 and Magic Leap successful 2016. Ma stepped down arsenic Alibaba's president successful 2019.

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Charles Rollet is BI's tech analogous successful San Francisco. Prior to joining BI, Charles worked astatine TechCrunch covering startups and VC. Charles is based successful the Bay Area, wherever he enjoys hiking pinch his dogs. You tin interaction Charles securely connected Signal astatine charlesrollet.12 aliases +1-628-282-2811.

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