Tencent to double size of investment to $1.5 bn

SHANGHAI, CHINA: Tencent Holdings Ltd , China's largest Internet company by market value, will double the size of its investment fund to 10 billion yuan ($1.5 billion), its chief executive said on Wednesday.

Tencent, which runs China's largest instant-messaging platform and operates online games, had already invested about half of the original 5 billion yuan fund over the past six months, Pony Ma said in a speech posted on Tencent's QQ news website.

"We used to dream of building a one-stop platform for online life, now, I want this dream to push further forward to become borderless and to create an open new Internet ecosystem," Ma said.

The fund would invest primarily in online games, social games and mobile games. Earlier this month, Tencent said it had invested in another fund that would support early-stage Chinese Internet start ups.