Back in January we wrote about how Tencent had launched a five billion yuan ($772 million) fund to invest in technology start-ups and companies focusing on games, mobile, media, and e-commerce.
To date, Tencent’s has made a total investment worth about 2 billion yuan. Some of these investment include U.S-based Riot Games, Huayi Brothers Media, and Elong, a China-based online travel company.
But that doesn’t seem to be enough for Tencent as Bloomberg reported this morning that the Internet behemoth will allocate an additional five billion yuan to its investment fund. For the math-impaired out there, that totals a whopping sum of 10 billion yuan.
This boost in funds demonstrates Tencent’s commitment towards expansion by acquiring and investing in potential firms. It is also worthy to note that Tencent is one of the investing partners in A-Fund, together with companies like GREE and KDDI. A-Fund is a fund focusing on Android-based applications. Other notable partners for the company include Groupon, Nokia, and Intel.
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