Alisoft Will Develop China Software Market With 20 VC Companies

Alisoft, a subsidiary of Alibaba Group, reportedly plans to cooperate with 20 venture capital companies to invest USD100 million to China's software market and to create 30 listed companies in three years.

Alibaba Group has made a three-year plan for Alisoft's entry into the online software service market and the cooperation with VC investment is a core part of the plan. Alibaba and the 20 VC companies will invest USD100 million to offer a fast channel to independent software vendors for green financing. Of the USD100 million, CNY100 million will be contributed by Alisoft.

In January 2008, Alisoft cooperated with Microsoft and Cisco to launch the first "software interconnection" platform in Asia. About 100 independent software vendors, software dealers and software service providers signed contracts with the platform. According to the estimation of Alisoft, the number of the independent software vendors on the platform will reach 3,000 and the company hopes to help 30 of them to get listed within three years.