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Synopsis
With growth of their core businesses stunted as a result of tighter supervision by regulators, the tech giants zeroed in on equity investment as a new avenue. With limited potential in Internet services for individual consumers, these firms have been pouring money into enterprise services. Tencent, for example, invested in at least 72 companies focusing on servicing businesses.
Guo YingzheChina’s tech giants Tencent, Alibaba and ByteDance made more equity investments in 2021 compared to the previous year, as a sweeping regulatory crackdown hit their core businesses, industry data show.Hong Kong-listed Tencent Holdings Ltd. and its affiliates invested in 258 companies last year, 60% more than in 2020, according to data compiled by Qichacha, a corporate information provider. The total size of the equity investments
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