China’s internet giant Tencent said to raise over $650m for new VC fund

A pedestrian walks past Tencent Holdings Ltd.'s new under-construction headquarters in Shenzhen, China, on Monday, Aug. 22, 2016. Photographer: Qilai Shen/Bloomberg

Tencent Holdings Ltd’s investment team is in discussions to raise a new dollar-denominated fund of at least $650 million, according to people familiar with the matter.

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