Alibaba Relied On Seraphim For Its Sale To Yahoo
Tim LeeMaster reports for The Standard from Hong Kong on Alibaba's use of a small Hong Kong-based merchant bank, Seraphim Capital, for negotiating its recent deal with Yahoo!
John Chi, one of Seraphim's founders, says his firm's approach is inherently different from the fee-driven, deal-based model that he said dominates the modern investment banking industry."We think more like a stakeholder,'' said Chi, who along with partner Casper Huang gets paid for his services with warrants and free equity, not fees.
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