The corporate will back innovative technology up to series B stage and has announced the first 10 portfolio companies for the newly launched unit.

Seven members of digital health company iCarbonX's Digital Life Alliance have attracted almost $400m, with PatientsLikeMe raising $100m.

The game producer's Shanghai Stock Exchange flotation has provided exits to shareholders including IDG Capital Partners and Ping An Insurance.

Zhang Jinling, who headed finance an investments for Xiaomi, has moved to Baidu and will be chief financial officer for its corporate venturing subsidiary.

Tencent co-led the bicycle sharing platform's second nine-figure round in under six months, which included fellow corporates Ctrip and Huazhu Hotels.

Sogou, operator of China's third most popular search engine, could go public in the US this year at a $5bn valuation, giving exits to Tencent and Sohu.

Tasly Pharmaceuticals, a major participant in the liver disease therapy developer's $55m series A round, has reinvested as part of its series B round.

IDG Capital has contributed to a $22m funding round that will help fintech producer Huisuanzhang establish an accounting firm network and improve its products.

The retail group has invested $12.3m in the Lippo Group-launched e-commerce platform, reportedly increasing its stake in the company to 12%.