Latest news with #FabricioBloisi
Time of India
3 days ago
- Business
- Time of India
Prosus chief investment officer Ervin Tu to step down
Prosus' vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi, transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and Europe. As a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers . Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Dutch technology investor Prosus said on Tuesday that Ervin Tu , the group's President and Chief Investment Officer will step down from his will remain in his role as an advisor to the group, the company's statement vision and strategy has changed significantly over the past 10 months under CEO Fabricio Bloisi , transforming the company from an investment holding group into an operating technology company, focused on lifestyle ecommerce, within its key markets of Latin America, India and a result, Tu feels that now is the right time to move on, said the company, controlled by South Africa's Naspers "I have enjoyed my time with the group immensely, I've accomplished what I wanted to achieve, and the Group is in very good hands," Tu he joined in August 2021, Tu has led important group initiatives, such as simplifying the group's structure, improving group-wide financial performance , implementing the ongoing share repurchase programme, and enhancing the operations of the investment team, Prosus said."Ervin has made significant contributions to our people, strategy and capital allocation - as CIO, as interim CEO and as President. I am very grateful to him for his counsel and support," Bloisi added.
Bloomberg
3 days ago
- Business
- Bloomberg
Prosus Chief Investment Officer Ervin Tu to Step Down
Prosus NV Group President and Chief Investment Officer Ervin Tu will step down from his current role, according to a statement on the company's website. Tu, who joined in August 2021, will maintain a relationship with the group as an adviser. He served as acting chief executive officer before the appointment of Fabricio Bloisi in the role last year.
Time of India
25-05-2025
- Business
- Time of India
Prosus' India strategy: Mix of investments & acquisitions
MUMBAI: Dutch technology investor Prosus will use a mix of investments and acquisitions to bolster its play in India, where it is seeking to build a portfolio worth $50 billion in the years to come, Group CEO Fabricio Bloisi, who took over the top job in July last year, said. The firm's approach will not be like that of a venture capital (VC) investor looking to close a series of deals at a faster clip. The strategy will rather be to build an ecosystem by investing in or acquiring companies within its core sectors, which can potentially open up opportunities for cross-selling among its portfolio firms and unlock faster growth for the broader portfolio. India, where Prosus will be allocating most of its resources alongside Europe and Latin America, is a market with a lot of potential, Bloisi said, adding that the company will be investing billions in India in the next few years. "We want to be less of an investor that has a pipeline of 100 companies with 5% (stake) in each one and more of an ecosystem that develops synergies between our own companies... We intend to invest more money in more companies. I will be disappointed if it's not a few billion," Bloisi told TOI in an interview. Prosus has invested $8.6 billion in India so far and has backed a clutch of startups, including Meesho, Swiggy, Urban Company, and Rapido. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Combata o zumbido no ouvido com este segredo revelado por especialistas! Assista Zumbido no ouvido Undo It also had a few failed bets like Byju's, which Bloisi said was the "worst problem" the company faced globally. However, the downfall of India's biggest edtech startup, once valued at $22 billion, did not change its investment perspective on the country. "Making wrong bets and correcting is a part of life. We lost a lot of money in Byju's, but we made much more money than we lost. Swiggy IPO was successful, and companies like Meesho and Swiggy have a lot of growth ahead... The $50 billion would be five or seven companies together, and probably four or five of these seven are already in our portfolio and will keep growing to get there," Bloisi said. Prosus will continue to prioritise investments in its core areas of food delivery, payments, e-commerce, experience (including services provided by firms like Urban Company), and AI. Bloisi, however, said that options in other sectors will not be closed, and it will be open to scouting for opportunities in emerging sectors such as clean tech and EV, although the company is unlikely to go big on these sectors as of now. Within AI, where Bloisi said India can do more, the company's strategy will be to back companies that are using AI to build their services, offer more use cases to consumers, and incorporate AI tools to make systems more efficient rather than betting on firms developing pure-play AI models. Meesho, for instance, he said, was able to reduce its costs by using AI, besides adding more languages to its app, enabling it to reach more consumers. "Most of the successful companies of the future are being built today on top of the (AI infrastructure) models. They (models) are just the first step... there's so much value to build, for example, marketing or video companies that are going to use AI models to offer services, and these are the type of companies we expect to invest in," Bloisi said, voicing the need for calibrated regulation. Regulating a sector like AI, which is still nascent and evolving, will slow innovation. "There will be so much change in AI, and it's not a local thing. It's a global play. There are Indian, American, Brazilian models. I am not supportive of AI regulation," Bloisi said. Prosus expects five companies from its India portfolio to go public this year, but Bloisi declined to name them. Urban Company and BlueStone have already filed draft IPO papers with Sebi, while some, like Meesho, are preparing to list. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
21-05-2025
- Business
- Mint
Prosus to take PE style bets, India one of three focus areas: CEO Bloisi
Global investor Prosus NV, which has backed Swiggy, Rapido and Urban Company, plans to reorganize its business by focusing on three key regions including India, Fabricio Bloisi, its newly appointed chief executive officer (CEO) said. Prosus, earlier called Naspers, will focus on payments and food startups, Bloisi said in an interview, adding the investor will adopt a private equity-style model of investing in select companies, moving away from the venture capital model of investing in too many. 'India is a very important market for us at Prosus. It is, in fact, our second biggest focus area," said Bloisi, who plans to narrow Prosus's geographical focus to Latin America, Europe and India. 'We will invest many more billion dollars in India in the near future," he added. Prosus has so far invested $9 billion in India. A little over 10 months ago, Bloisi took over as CEO of Prosus, which had over $152.427 billion of assets in 2024. Earlier, he was chief executive and chairman of the group's Brazilian food delivery business, iFood. Under his leadership, iFood grew to be the leading food delivery business in Latin America, delivering over 100 million orders per month and is highly profitable. Also read: Mint Exclusive: JBL maker Harman to sell controlling stake in India unit Building businesses Prosus has pumped nearly $30 million into SaaS ride-hailing platform Rapido in February this year. Last year, it also made a $100 million investment Vastu Housing Finance and acquired a 10.65% stake in supply chain financing startup Mintifi. Globally, Prosus recently led a $15.7million funding round Egypt-based Thndr, an investment platform. It also led a $13.5 million investment round in Spanish AI company Luzia, a personal assistant app as well as a $4.3 million pre-Series A round in Zest Equity, a UAE-based digital infrastructure platform meant for simplifying private market transactions. According to Bloisi, the firm does not want to do many deals that are small and don't leverage its ecosystem. 'When we focus more and get a new company here in India, we think about how we can get Swiggy and PayU to help this company through data, cross-sell and cost reduction," Bloisi said. Bigger deals 'We plan on doing bigger deals in India, where we will be taking more than 5% stake in businesses. That's definitely our intention. We can go up to 15% to 20% to even 25% in these companies. We're also looking for many buyouts. We're talking to companies here, we want to do more in India and invest more," said Bloisi, who is in Bengaluru for the company's annual conference. Globally, the ball has been set rolling. Prosus has already made several acquisitions this year, including a $4.3 billion all-cash public offer to Just Eat Takeaway, a Dutch multinational online food ordering and delivery company. Also read: After Pebble, Mensa looks to sell its Renee stake The firm, which was an early investor in companies such as PayU, Swiggy, Rapido, Meesho, and Urban Company, is now going to increasingly focus on fintech and food delivery as verticals which will make up the foundation of its India strategy. Taking money off the table Prosus has previously clocked stellar exits from its investments in companies such as Flipkart, MakeMyTrip and Goibibo. After the mega public listing of food delivery startup Swiggy last year, Prosus is planning to exit via IPOs in Urban Company and Meesho over the next 12-18 months. The company is rallying behind AI and generative AI to help its businesses in India and other parts of the world grow, he said. For India, Prosus's ambitions are high. 'We don't have $50 billion worth of businesses outside of US and China today. We see such big businesses coming out of India going forward, and we want to help build those businesses," Bloisi said. '$50 billion and above' 'I'm not thinking about creating a $10 to $15 billion tech company in India. I'm thinking about how we can create a $50 billion strong Indian tech player," he added. This, he says, can be done by consolidating businesses here and doing so-called bolt-on acquisitions on existing portfolio companies. 'We can consolidate the market with the intention of continuing to invest many billions in India." Also read: Rebel Foods gets $25 mn from Qatar Investment Authority for restaurant expansion India has been a tough market for financial services investors given strict regulations on fintech companies. Asked whether over-regulation is a dampener, Bloisi said, 'In the payments business, there is almost a requirement that some of it has to be regulated. I think PayU weathered that well and went through the demands of the regulator, and today is well-positioned. That said, we have to avoid the chance that because we're over-regulating, companies choose to move much slower," said Bloisi. 'Some areas like credit need to be regulated, without which there can be constant cycles of a 'bubble, then a collapse," Bloisi added.
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Business Standard
20-05-2025
- Business
- Business Standard
Prosus CEO Bloisi visits India to launch flagship 'Luminate' event series
Fabricio Bloisi, Group CEO of global technology investor Prosus, is visiting India this week to attend the company's inaugural Prosus Luminate event series. The first edition, held in Bengaluru, brings together entrepreneurs, investors, and business leaders to discuss emerging trends at the intersection of commerce, capital, and technology. 'Luminate is where we bring together the brightest ideas and the boldest builders—not just to talk about the future, but to shape it,' said Fabricio Bloisi, Group CEO, Prosus. Set against a decade-long backdrop of deep investment and ecosystem-building in India, Prosus Luminate serves as a new platform for global dialogue and discovery, tailored to the country's most pressing opportunities and transformative ideas. The event this week is positioned as a premier forum to explore the transformative impact of technology on industries, societies, and economies. As a key market for Prosus, India was chosen as the launchpad for the series, reflecting the company's commitment to supporting and amplifying the country's dynamic digital ecosystem. The day-long event features keynote addresses, unscripted panels, immersive showcases, and curated networking zones—all designed to facilitate meaningful conversations that shape markets and mindsets. 'India represents one of the most exciting frontiers in global tech and entrepreneurship. As a long-term partner to Indian founders and ecosystems, Prosus is anchoring Luminate here to spotlight the ingenuity, ambition, and global relevance of Indian innovation—and to catalyse new conversations that will define the next decade of growth,' said Ashutosh Sharma, Head of India Investments at Prosus. Prosus supports leading lifestyle and e-commerce brands across Europe, India, and Latin America. Its portfolio spans sectors including food delivery, digital payments, classifieds, travel, and mobility. In India, the firm has invested in companies such as Swiggy, Meesho, Byju's, Captain Fresh, and Urban Company. Prosus continues to explore emerging opportunities at the intersection of artificial intelligence, digital commerce, and frontier technologies, including robotics, drones, and synthetic biology.
