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Tencent intends to further diversify investments outside of games

Tencent intends to further diversify investments outside of games

January 20, 2020 | By Chris Kerr

January 20, 2020 | By Chris Kerr
More: Business/Marketing

Tencent wants to step up its investment efforts outside the world of video games, and intends to "pay more attention to smart retail and payment platforms."

The Chinese conglomerate has spent huge amounts of cash in recent years investing in game companies like Riot Games, Supercell, Epic Games, Activision Blizzard, and Ubisoft (to name but a few).

Of course, while Tencent hasn't exclusively invested in games companies during that time, it's interesting to see the firm signal a shift in focus. 

As reported by Reuters, Tencent president Martin Lau took to the stage during a recent conference to explain the company would be looking to move beyond its  "traditional investment sectors," offering some insight into its future spending plans.

"Previously our traditional investment sectors were mostly focused on video games content and frontiers of science and technology," said Lau during a recent conference. "However, with the development of Tencent's WeChat mini-app ecosystem and payment platform, we will pay more attention to smart retail and payment platforms in future."

Still, that doesn’t mean Tencent will be less focused on growing its various game businesses. It's only been a few weeks since the company agreed an "undisclosed capital investment" with Bayonetta developer Platinum Games as the basis for a future partnership. 

Tencent also recently expressed a desire to begin developing console titles for Western audiences, and is currently working with Nintendo to bring the Switch to China.

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