The internet portal invested heavily in food delivery, ride hailing and ticketing as it seeked to build out the services linked to its extremely popular WeChat messaging app.
This time last year internet company Tencent was one of three China-based corporates spending big money on VC and M&A deals, but as 2015 saw Alibaba and Baidu focus more on fewer, private equity-sized deals, it emerged as China’s most active corporate venturing investor.
Tencent continued to invest across the stages, but most of its deals can be divided into sub-$10m seed and series A rounds, and $50m+ rounds being raised at series C or later. It participated in…
