Abstract:Naspers of South Africa takes a stake in Tencent,which is regarded as one of the world"s most win-win strategic investment case today. It tries to construct a dual-equities function model by applying the method of logarithmic function, in order to explore and reveal the path to success. It shows, in the industrial economy era,The business model of "Who investment,who dominated" embodies the single capital function of rights and interests which Has faded in the lag. On the contrary,“I invest, you dominate”management pattern reflects the single knowledge function of rights and interests that is hard to conceal its advance.AS “capital - knowledge cooperation”mode of Naspers and Tencent alliance reflects the dual-equities function, which is the most suitable today.