Tencent defends investment spree as core strategy amid venture ‘capital winter’ concerns

//Tencent defends investment spree as core strategy amid venture ‘capital winter’ concerns

Tencent defends investment spree as core strategy amid venture ‘capital winter’ concerns

Tencent President Martin Lau Chi-ping launched a robust defence of the company’s practice of taking stakes in hundreds of companies, saying that investment is part of the Chinese internet giant’s core strategy.“Last year, there were those who equated Tencent doing investments to the company losing its aspirations, Tencent becoming like an investment bank,” Lau, a former Goldman Sachs investment banker, said at an annual gathering with its investee companies in Beijing last month.“In reality,…

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By | 2019-02-20T07:07:38+00:00 February 20th, 2019|Business|Comments Off on Tencent defends investment spree as core strategy amid venture ‘capital winter’ concerns