This website requires JavaScript.
Daily Briefing

Tencent pushes back on slow-investment report

Oct 24, 2018 by The Passage Team
Tencent pushes back on slow-investment report

Chinese internet giant Tencent said it has kept up a steady pace of external investments this year, with more than 30 ongoing projects, contradicting a local media report saying it had cut back in the second half of the year.

Tencent Investment “has continued its development this year,” said the investment arm of the Shenzhen-based company in a statement in response to Chinese tech site 36kr’s report. The report said Tencent had notably cut back its investments in the second half of 2018, especially for projects not seen as part of its core business.

Besides continually funding and refinancing companies in fields including content, smart industries, games and e-sports, and autonomous driving, Tencent said it has also stepped up its global footprint in India, Southeast Asia, Europe and South America.

Source: SCMP

The Passage Team

The Passage is committed to creating in-depth content over technology industry across Asia with a focus on emerging startups in the technology, healthcare, education, food, tech, travel & mobility segments.

Follow The Passage Team