Tencent continues India investments despite FDI curbs on Chinese money

FILE PHOTO: A Tencent logo is seen in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo

Chinese internet giant Tencent Holdings has continued its deal momentum in the Indian startup space by routing its investments through overseas entities or by way of debt and hybrid instruments to go around New Delhi’s restrictions that apply to investments from neighbouring countries.

A case in point is the tech giant’s latest investment in Cars24, an e-commerce platform for pre-owned vehicles, that has been routed through its Europe-based special purpose vehicle, per a report in Entrackr.

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