Tencent has hired Tejeshwi Sharma from Sequoia Capital India to help scout for new investments in India, the two people added. In 2016, Tencent shifted its focus to investing in Indian internet start-ups. For both Tencent and Alibaba, India is one of the top markets outside China. As the Chinese internet market matures, Tencent and Alibaba need to enter other markets to keep up their growth rates and valuations. Tencent and Alibaba, which has a large stake in payments firm Paytm, are battling each other for dominance of China’s internet market.

Source: Mint October 05, 2017 23:03 UTC