Venture capital

Why Tencent wants a share in medical service platform

Tencent invested the third time into a medical service platform - a hot sector for investors right now.

Tencent led an Rmb1 billion $142 million follow-up Series D on Tuesday in tumour medical service platform Medbanks, bringing people’s attention to the growing market of medical service in China.

Wu Capital and existing investors Eight Roads, F-Prime Capital, China Electronics Corporation, CICC, IDG Capital all participated in the round.

This is Tencent’s third investment in Medbanks. The Chinese internet giant led the Series B totalling more than $10 million in early 2016 and doubled down on its investment early this year. This is a logical investment, as cancer treatments have become a chronical disease and a service platform can offer a much longer solution...

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