Many concerns are raised of the Chinese play in Indian startups. According to the report said only one investor from the country’s northern neighbour Tencent Holdings features among the top unicorn backers. Sequoia Capital India is the top backer of unicorns which claimed to have a valuation of over $1 billion, according to the Wednesday report.

Sequoia an Indian based Start-up has invested in total eight Indian unicorns including Byju’s and Unacademcy, and followed by Japanese investor Softbank and British Steadview Capital’s seven investments each, as per the Hurun India Unicorn Investors List.

With these three unicorn investments. Among them Tencent was ranked eleventh together with six other investors that include Bennett Coleman and Company, Bessemer India Capital Holdings, Chiratae Ventures, General Atlantic Singapore, IFC and LTR Focus Fund.

Recently, Chinese e-commerce giant Alibaba invested in Paytm, Paytm Mall, Zomato and Bigbasket. As per the reports- Industry leader Ratan Tata’s RNT Associates is been ranked seventh on the list of unicorn investors with other four successful bets, which include Ola Cabs, Zomato, Lenskart, and Unacademy.

Hurun’s managing director for India and chief researcher Anas Rahman said, “these investors play a significant role in accelerating the creation of new wealth in India.”