Deals
Tencent Joins Naspers in a $1 Billion Funding for India's Swiggy
- Meituan, DST Global and Hillhouse Capital also took part
- Naspers has favored India and food delivery businesses
A courier of Swiggy holds take-out food from a Burger King restaurant in Mumbai.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Tencent Holdings Ltd. joined Naspers Ltd. in a $1 billion investment in Indian food delivery service Swiggy, which gains a potentially valuable ally in China’s largest social media and gaming company.
Naspers led the financing, which snagged new backers Hillhouse Capital and Wellington Management in addition to existing investors DST Global, Meituan Dianping and Coatue. The funding round, which Bloomberg reported on in October, marks Swiggy’s third for 2018 and largest to date. Naspers, Africa’s most valuable company, said it put up $660 million.