Patrick Liu Chunning, head of Alibaba’s digital entertainment operations, said that Yule Bao will continue to work with Chan and his Sparkle Roll Culture and Media group.
Yule Bao is a minority investor in “Dragon Blade,” the $65 million historical fantasy action film that is produced and stars Chan, with John Cusack and Adrien Brody as co-stars, and is expected to be one of the biggest movies at Chinese New Year. Lui made his remarks at the film’s premiere in Beijing.
Liu did not address the amount of any future investment, an Alibaba spokesman told Variety.
Yule Bao is a crowd-funding-like service which allows large fans to back movies and TV shows, while also earning fixed rates of return. Among its other early investments last year was support for Ann Hui’s “The Golden Era.”