Prosus Sets Sights on India's Tech Market Explosion
South African-owned tech investor Prosus is placing a bold bet on India, anticipating the rise of a $100 billion technology giant within the next few years. The firm, which holds a $10 billion investment portfolio in India, sees a unique opportunity reminiscent of its early and massively successful stake in China's tech titan Tencent.
Learning from Tencent’s Success
Prosus’ parent company, Naspers, famously acquired nearly 50% of Tencent in 2001 for a modest $32 million. Fast forward to today, that investment is now valued in the billions, with Tencent boasting a staggering market capitalization of almost $600 billion.
"Companies in India are still relatively small. Our current investment approximates where China was 14 years ago," explained Prosus CEO Fabricio Bloisi. "We believe India won’t just produce a $20 billion company; it’s on track to nurture a $100 billion — perhaps even a half trillion-dollar — enterprise. This is a long-term play rather than a quick flip."
Strategic Investments Across India’s Tech Landscape
Prosus has poured capital into some of India’s most dynamic startups, including the digital payments provider PayU and fast-growing e-commerce player Meesho. The company also owns just under 25% of major food delivery firm Swiggy, broadening its exposure to consumer-facing services.
Part of the investment strategy involves pushing for initial public offerings (IPOs) of its Indian portfolio companies. Bloisi hinted at an anticipated wave of public listings this year, with five Indian startups backed by Prosus expected to join the stock market.
"Having strong local markets investing in local tech companies is critical—this model served the U.S. and China well," Bloisi said. "India is on the verge of that exciting milestone, which could significantly turbocharge its tech ecosystem."
Building Ecosystems: The Tencent Blueprint
Prosus emphasizes creating robust ecosystems around their investments, following Tencent’s playbook. Tencent’s WeChat revolutionized China by integrating messaging, payments, taxi-hailing, and food delivery into a single platform.
"We aim to develop multi-faceted ecosystems that extend beyond a single product," Bloisi pointed out. "Similar to what Microsoft, Uber, Google, and Meta have done in the U.S., we focus on interconnected services that leverage shared technology and enable cross-selling opportunities."
Global Expansions: Europe and Latin America
Beyond India, Prosus is actively expanding in Europe and Latin America. The investor holds stakes in Brazil’s food delivery giant iFood, online travel platform Despegar, and marketplace OLX Brasil. Food delivery and digital payments remain foundational investments, with ambitions to cultivate e-commerce and travel experiences within their ecosystems.
Earlier this year, Prosus initiated a €4.1 billion ($4.7 billion) all-cash bid to acquire a leading European food delivery company. The deal is currently under review by the European Commission, with Bloisi expressing optimism about swift regulatory approval.
The Road Ahead
Prosus’ vision is clear: leverage its global expertise to foster towering tech enterprises that transform daily life across continents. By replicating Tencent’s ecosystem success in emerging markets like India, the investor aims to identify, nurture, and scale the next generation of powerhouse companies.
