China's big tech money seen in US$2b worth of South-east Asian deals

Tencent made bets across several sectors this year, while Alibaba struck two big strategic deals

Sharanya Pillai

Published Mon, Dec 20, 2021 · 05:50 AM

Alibaba

Singapore

ANOTHER year, another wave of Chinese money flowing into South-east Asia. Tech giants Alibaba, Ant Group and Tencent participated in over 10 regional fundraises worth US$2 billion this year, even as they faced unprecedented pressure at home.

Tencent struck the most deals, investing in at least six South-east Asian startups, ranging from fintech and e-commerce plays to analytics companies (see table).