Corporate tech VC funds launch in China
Chinese internet powerhouses Tencent and Alibaba are to launch separate private investment vehicles aimed at financing third-party developers in hopes of adopting new technologies – a model in line with overseas corporations that have since proven to be leading technology investors.
On Wednesday, Tencent announced the creation of it own private equity fund, called the Tencent Industry Win-Win Fund, with an expected corpus of RMB5 billion ($760 million) to foster external digital application...
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