Stock Advisory in Indore: Tencent scouts for more start-up deals, tracking Alibaba in India

Tencent Holdings Ltd is fast becoming one of the most influential and closely-watched investors in India’s internet business, as the Chinese giant looks to diversify outside its home market and match arch-rival Alibaba Group Holding Ltd in building a presence in India.

So far, Tencent has invested $850-900 million in Indian start-ups, including $700 million in Flipkart Ltd. Tencent first invested in Indian start-ups in August 2015, when it led a $90 million round in digital health platform Practo Technologies Pvt. Ltd. Its other investment is messaging app Hike Ltd. The company is also in advanced talks to invest $400-500 million in Ola (ANI Technologies Pvt. Ltd), one person familiar with the matter said. The news was first reported by The Economic Times newspaper.

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