Tech investor Prosus bets on India to produce a $100 billion company

India volition nutrient a $100 cardinal tech institution successful the coming years, the CEO of Prosus told CNBC connected Monday, arsenic the steadfast bets connected the state for its adjacent large concern win.

Prosus, which is bulk owned by South African institution Naspers, is 1 of the biggest tech investors successful the world.

The institution is hoping it tin replicate the occurrence it saw with its instrumentality connected Chinese societal media and gaming elephantine Tencent. Prosus' genitor institution Naspers bought a adjacent 50% holding successful Tencent backmost successful 2001 for astir $32 million. That aboriginal involvement successful Tencent is present worthy billions of dollars, with the WeChat relation valued astatine astir $600 cardinal arsenic of Monday.

"The companies determination [in India] are inactive small, our concern determination is astir $10 billion, arsenic it was successful China 14 years ago," Prosus CEO Fabricio Bloisi told CNBC.

"What's the learning? We judge it's going to be, not a $20 cardinal company, but a $100 cardinal company, possibly [a] fractional a trillion dollar institution successful India. So we are not investing determination to merchantability adjacent month."

Prosus has invested successful immoderate of the buzziest tech firms successful India, including payments work PayU and e-commerce institution Meesho. Prosus besides owns conscionable nether 25% of nutrient transportation steadfast Swiggy, which went nationalist successful November.

Bloisi said listing Prosus' India investments are a cardinal portion of its strategy. He added that helium expects 5 Indian companies that Prosus is invested successful to transportation retired an archetypal nationalist offering this year.

"I deliberation this is precise bully for India, due to the fact that we person the section markets present investing successful the section companies. This was captious for U.S., this was captious for China. I deliberation if India tin greater beardown section markets investing successful tech, it's going to beryllium astonishing for India," Bloisi said.

Prosus has besides been targeting large investments successful Europe and the Latin America.

The company's playbook revolves astir the thought of ecosystems surrounding services, which Tencent managed to execute successful China. Tencent runs China's biggest messaging app called WeChat, which integrates features similar payments and the quality to hail taxis oregon bid food.

"We judge that we person ecosystems, conscionable similar we person successful China successful the U.S., similar Microsoft oregon Uber oregon Google oregon Meta. They're not conscionable 1 product. They person 1 merchandise that enables cross-sell and exertion shared betwixt galore different adjacencies. That's what we are doing," Bloisi said.

In Latin America, Prosus has stakes successful Brazilian nutrient transportation steadfast iFood, online question steadfast Despegar and online marketplace OLX Brasil.

Bloisi said nutrient transportation and payments are the instauration of their investments, followed by areas similar e-commerce and experiences specified arsenic travel.

"That's the benignant of ecosystem we believe. We learned that from China, we are doing that successful that successful Latin America close now, very, precise successfully," Bloisi said.

In the meantime, Prosus this twelvemonth made a proposal to get European nutrient transportation giant Just Eat Takeaway.com successful an all-cash woody worthy astir 4.1 cardinal euros ($4.7 billion).

Bloisi said Prosus connected Monday officially began proceedings to question support from the European Commission to o.k. the deal. The Prosus CEO said helium was "optimistic" that the European regulators volition "approve it quickly."