Alibaba and Tencent are among the largest tech companies not just in China but the entire world. And both are among the host of Asian investors actively looking to bet big on future consumer Internet darlings in the U.S.
Since the start of 2011, the two Chinese Internet giants have participated in at least 24 U.S. private company transactions totaling nearly $1.7B in disclosed funding according to CB Insights data. The six transactions in which soon-to-IPO Alibaba has participated have focused primarily on U.S. eCommerce marketplaces including 1stDibs, ShopRunner and Fanatics with the exception of mobile app search engine Quixey and now ride-sharing app Lyft and social messaging app Tango, whose $280M infusion is said to put it in the $1B+ valuation club.
While Alibaba’s U.S. investments begun just last year, Tencent has completed over 15 deals over the past three years. While Tencent participated in Fab.com’s $150M mega deal, it has more frequently been investing at the seed stage in startups focused on the consumer mobile space. Tencent-backed mobile companies include Everyme, Loom, ‘Quiz Up’ developer Plain Vanilla Games, Couple and ephemeral messaging app Snapchat.
Interestingly, there is one VC that Tencent does deals with most frequently – Andreessen Horowitz. A16Z has been a co-investor in five of Tencent’s deals since 2011.
The chart below details U.S.-based transactions over the past three years in which Alibaba or Tencent participated in and which include disclosed funding amounts.
Updated as of May 6, 2014