It’s no secret that Tencent, the Chinese tech giant behind WeChat and a handful of blockbuster video games, is an aggressive investor. Even during 2020 when the pandemic slowed down economic activity in many parts of the world, Tencent was charging ahead with its investment ambitions.

During the year, the company participated in more than 170 funding rounds that amounted to a total of 249.5 million yuan ($38 million), according to the Chinese startup database ITJuzi. That made 2020 the most active year to date for Tencent’s investment team, which had been delivering superior results in the last decade.

By January 2020, over 70 of Tencent’s 800 portfolio companies had gone public and more than 160 of them surpassed $100 million in valuation, Martin Lau, Tencent’s president, told a room of investees at the time. The achievement could well place Tencent side by side with some of the world’s top venture funds.

Tencent established an investment and M&A unit back in 2008 and began to seriously ramp up financing around 2012. Since 2015, it has been funding more than 100 companies per year, ITJuzi data shows.

The social and entertainment giant has for long kept its funding activity close to its chest …read more

Source:: TechCrunch

      

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