Prosus and Naspers CEO Fabricio Bloisi stated that the technology investor has close to US$20 billion (R371 billion) available for investment and is prepared to expand in Europe. Bloisi oversees both Amsterdam-based Prosus and Naspers, its South African parent company. These companies already have significant investments in European firms, such as Germany’s Delivery Hero. However, most of their recent deals have been in higher-growth markets, including a listing in India and a $1.7-billion acquisition of a travel agency in Brazil.
“We need to invest significantly more in Europe to make it competitive and not depend on external players,” Bloisi remarked during an interview at the World Economic Forum on Thursday. “Our ecosystem in Europe is ready to expand, and we are prepared to invest.”
Bloisi, who was promoted to the CEO position last year, has been tasked with identifying new growth opportunities following an early investment in Chinese video game company Tencent Holdings, which has heavily influenced the company’s financials and market value. He mentioned that Prosus is now looking to invest closer to home and noted that President Donald Trump’s efforts to establish the US as a leader in artificial intelligence served as a motivating factor for Europe.
“At Davos last year, the focus was on slowing down AI development,” he said. “The Trump administration shifted the narrative to accelerating AI advancements.”
This week, Trump rescinded former US President Joe Biden’s AI safety measures and announced a $500-billion AI infrastructure joint venture involving SoftBank Group, OpenAI, and Oracle. Prosus is also interested in partnering with others in the European AI infrastructure sector, according to Bloisi.
Investment focus
Through Naspers, Prosus made a significant investment in Chinese game developer Tencent in 2001 by acquiring a 50% stake for $34 million. Today, it owns approximately a quarter of Tencent, which has a total market value of about $450 billion.
“Prosus’s strategy is not centered on China. Prosus’s strategy involves being a shareholder of a Chinese company, but our investment focus and growth ambitions lie in Europe, India, Latin America, and Africa,” Bloisi said.
