Thirty-four internet companies joined the ranks of unicorns - privately held companies with valuation of more than $1 billion - in 2017, according to business information service provider ITJUZI.

Sequoia Capital China invested in 13 of the newcomers, taking the crown in terms of the number of new unicorns invested this year, said ITJUZI.

The venture capitalist was followed by internet giant Tencent Holdings Ltd, which financed 8 unicorns.

Let's take a look at the 10 corporations/institutions that invested most in internet unicorns in 2017.

No 8 ZhenFund
Number of unicorns invested: three