Tencent reinforces India's consumer internet story

It also led a $1.5-billion funding round in Flipkart in April 2017

Chinese social media giant Tencent Holdings recently invested an undisclosed amount in India’s education technology start-up Byju’s, and is now set to invest $400 million in cab aggregator Ola. A few months ago, in April, Tencent had led a $1.5-billion funding round in online marketplace Flipkart. Clearly, India has emerged as a hot investment destination for the firm.

“Tencent’s strategy in India is (to be) a late-stage investor in the consumer internet space. While some Indian venture capital (VC) firms have vacated the consumer space and moved on to safer but low-return spaces like SaaS (Software-as-a-Service), Tencent reinforces that India