It’s the kind of track record that would make any Sand Hill Road venture capitalist jealous.
Tencent, best known for its WeChat messaging app, is one of the world’s biggest and savviest tech investors, holding stakes in a range of companies including Snap and Meituan. Previously unreported internal data reviewed by The Information shows the Chinese internet giant’s unrealized gains last year from its minority stakes in about 100 publicly listed companies amounted to $120 billion, roughly six times its estimated profit for 2020.
