Chinese Internet giants Tencent Holding Group and Renren will be investing around US$100 million in Israeli based Singulariteam investment group’s second fund.

Singulariteam is dedicated to assisting early stage technology companies requiring seed capital. Founded in 2012 and headquartered in Tel Aviv it has six offices located around the world and acts as a super angel investor. This new second fund focuses on investing in advanced, new and disruptive technologies.

Singulariteam chairman and YO! and Mobli founder Moshe Hogeg launched the fund at a press conference. Kazakh businessman Kenges Rakishev, who made most of his fortune in traditional industries, participated in the first Singulariteam fund, and invested directly in Mobli, is also an investor in the new second fund.