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ByteDance Cuts Investment Arm as Deal Curbs Chill China Tech

  • The TikTok owner is downsizing its busy investment unit
  • The move sends another chill through China’s giant tech sector
The ByteDance offices in Beijing.

The ByteDance offices in Beijing.

Photographer: Greg Baker/AFP/Getty Images

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ByteDance Ltd. has downsized its powerful investment arm, anticipating Beijing will soon tighten curbs on the prolific deal-making that turbocharged the growth of China’s largest internet companies.

TikTok’s owner is dissolving the internal venture capital and investing team that makes bets on promising startups, people familiar with the matter said. A separate strategic investments arm, which focuses on backing companies that can help its own businesses, is undergoing a radical overhaul that will see it pull back from deals as well, they said, asking not to be identified discussing internal matters.