Is Facebook considering venture investing?

Gigaom

Facebook considered investing in Chinese mobile conglomerate Xiaomi, according to sources that dished to Reuters. The deal didn’t pan out for a range of reasons, from political concerns to investment conflicts, but could point toward a new focus for Facebook on strategic investments.

Smartphone maker Xiaomi is one of China’s most promising tech companies, and China is a market that Facebook has been eyeing for some time now. An investment in Xiaomi would potentially give Facebook more power in its ongoing campaign to enter China, where the social media site is currently banned. But such an investment could also anger the Chinese government, causing problems for Xiaomi. Ultimately that concern, plus the fact that Facebook competitor Google is a key Xiaomi partner with its Android platform, kept the deal from going through.

Strategic corporate investing isn’t a new tactic for major corporations. Companies from Google to Intel to Samsung have venture investing arms that…

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