Alibaba’s Ex-CEO Joins Low-Profile China Fund Months After Exit

Former Alibaba Group Holding Ltd. chief Daniel Zhang has joined a little-known Chinese investment fund, a surprise twist to a long career during which he oversaw the rise and decline of the country’s highest-profile internet firm.

Zhang will take up the role of managing partner at Firstred Capital, the investment house said on its official WeChat account. The former CEO will work alongside founder Liu Xiaodan, according to the brief post.

Zhang steered Alibaba through one of the most turbulent periods in Alibaba’s two-decade history, during which it weathered the pandemic, a deep economic downturn and a punishing ...