Tencent was directly involved in 40 per cent of all money invested in games company funding rounds over the last 12 months, according to data from Digi-Capital.
A staggering figure, made all the more remarkable when considering that Tencent was also involved in -- by dollar value -- over three-quarters of all industry mergers and acquisitions in the same period.
This was in the context of a record-breaking past three months for the industry with a $2.1 billion worth of investments across, and over $14.4 billion worth of M&A.
The vast majority of that M&A figure is the result of Naspers' sale of its two per cent share in Tencent which it sold for $10 billion, making a 60,000% return on investment.
Tencent's largest acquisition was the $2 billion deal for Vivendi's stake in Ubisoft. Other notable Tencent investments included $630 million into streaming platform Douyu, $474 million into MMO/MOBA publisher Shanda Games, and $130 million into mobile developer Kakao Games.
According to Digi-Capital, there was nearly $22 billion worth of market investments and M&A across the industry in the last 12 months.
However, even with over $17 billion of games M&A alone for that period, the figure remains well below the 2016 peak of $28.4 billion.
The investment bank also forecast global games software and hardware market revenues to reach $160 billion this year and exceed $230 billion by 2022.