Founded in 1998 in China, Tencent Holdings is a corporate investor that focuses on startups with an average value of over $1 billion. The company has a high rate of exit commitments compared to others, with a significant increase in exits in 2018. Tencent Holdings typically invests in deals worth more than $100 million and is involved in 25-48 deals per year. The fund was formed by Chen Ye Xu, Pony Ma, and Zhidong Zhang, and currently has 42 key employees. Tencent Holdings invests in startups in the mobile apps and internet sectors, with no specific preference for the number of founders. The fund primarily invests in China, and some of its notable portfolio startups include Uber, Didi Chuxing, and Meituan-Dianping. Tencent Holdings often co-invests with Lightspeed Venture Partners, Tiger Global Management, and Spark Capital, and in subsequent rounds, it receives funding from Qiming Venture Partners, Sinovation Ventures, and Matrix Partners China.