Tencent, Jeneration Capital lead $305m Series E1 round for Medbanks

Heartbeat being electronically monitored.

Tencent and Asia-based growth capital asset manager Jeneration Capital have jointly led an investment of nearly 2 billion yuan ($305.3 million) in the Chinese oncology medical service platform Medbanks.

The transaction is Medbanks’s Series E1 round and Tencent’s fifth investment in the firm. The Chinese social networking and gaming giant led the firm’s Series D+ round in November 2019, in which MedBanks raised about 1 billion yuan.

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