Investors in M17, the owner of properties such as Paktor and 17 Media, include MCN, Yahoo Japan and LeSports.

Entertainment producers like 21st Century Fox and Warner Bros have reportedly supplied $200m of an $800m round that will support high-budget, short-form video, as content continues to draw in big bucks.

YY's live game streaming spinoff, which also counts Tencent as a major investor, is floating in the US at the top of its range.

Marek Rubasinski, formerly Sky's director of startup investments and partnerships, is gaming technology developer Polystream's new chief commercial officer.

GV and existing investor Salesforce Ventures were among the participants in a series B round that lifted the text messaging platform's total funding to $42m.

The unit, restructured as a full corporate venturing unit in 2016, has rebranded to M12 while its accelerator counterpart will be known as Microsoft ScaleUp.

Tencent will make a loss when it exits website building software developer Weebly, valued at $455m three years ago, through an acquisition by Square.