Tencent, a China-based online messaging company, has acquired a majority stake in one of its corporate venturing group’s portfolio companies, Riot Games, for a reported $400m.
Tencent, China’s largest online services company, joined a consortium alongside venture capital firms Benchmark Capital and Firstmark Capital that invested $8m in US-based online game publisher Riot in September. Benchmark and Firstmark had previously invested $7m in July 2008.