In the third quarter, Tencent has been active in terms of private equity investment.
The internet giant made 30 private equity investments between July to September, more than the 22 investments it made in the second quarter, according to data firm ITJuzi.
This beats rival Alibaba, which only made 16 investments in the third quarter.
The past quarter also marks the first anniversary of the transformation that Tencent started in September last year to transform its business from consumer-oriented internet to an industrial-facing one.
This has also been the focus of Tencent’s private equity investment, which has been more focused...
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