Lippo Group invests $44 million in Tencent Holdings Limited

Tinuku - Lippo Group on Monday announced it has started investing in Tencent Holdings Limited. The Indonesian conglomerate has invested Rp628 billion (US$44 million) in fresh funds for Chinese Internet giant companies through their subsidiary in Hong Kong in the form of purchase of new shares of Tencent and equity linked notes (ELN).

Lippo Group said the investment is part of their digital transformation and investment for the fourth industrial revolution. Previously Lippo Group has invested directly in digital business in Indonesia including forming a company Venturra Capital.

Tinuku Lippo Group invests $44 million in Tencent Holdings Limited

The company has also built MatahariMall.com B2C e-commerce, Mbiz.co.id B2B e-commerce and OVO.id mobile payment service. They have also provided investments to several technology startups including Grab's online transport service.

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