Tencent executive Jonathan Lai leaves to join US investment firm Coatue

Jonathan Lai, who led western investments and strategic partnerships for Tencent Holdings, has left the technology giant to join New York-based Coatue Management.

Lai, who graduated from Harvard University, worked for Tencent for more than three years from July 2015 to September 2018, serving as a director of investment and business development. Lai has joined global investment manager Coatue as an investor in digital entertainment including games, video, music and enabling technologies, according to his LinkedIn profile.

Lai’s team at Tencent was responsible for making investments in the US and Europe, backing dozens of companies including Epic Games, the publisher of the popular title Fortnite, and Discord, a messaging service for gamers, according to The Wall Street Journal, which first reported the news of Lai’s departure.

Tencent confirmed Lai’s exit on Wednesday without commenting further. Lai did not respond to a request for comment sent to his LinkedIn account. Coatue could not be reached immediately for comment.

Lai’s departure from Tencent comes at a challenging time for the Shenzhen-based company, with its shares languishing around the HK$325 level in recent days compared with a year high of HK$474.60, amid a clampdown on gaming and content by Beijing, regulatory uncertainty and a big sell-off in the technology sector on an escalating trade war between China and the US.