Traditionally South Africa-based Naspers, a $65B global internet and entertainment group with operations in more than 130 countries, had shied away from developed markets. Its investments had always been in emerging economies.
However its entrance into the US market has been forthcoming. Naspers CEO, Chief Executive Officer Bob van Dijk had mentioned this in a discussion in December 2015 after it invested 100 million in Alec Oxenford’s Classifieds smartphone startup, letgo in September 2015
He said that “Naspers could base a number of investment professionals in the Bay Area to identify the right deals. We will probably have more focus on the Bay Area than we’ve had previously. If we see the right opportunities we could see ourselves put a good amount of capital there.”
So the creation of Naspers Ventures is in line with its vision. It has recently invested $15 million in Brainly, a US-based, online social learning community for students.
According to the company in a press release recently, “Naspers is looking to the U.S. market as an additional source for innovative platforms with global growth potential, given its prime track record for technology innovation. Many early technology companies that are starting up in North America have potential far beyond the U.S. and Naspers can accelerate the path from innovator to global leader. The investment in Brainly showcases this strategy. Naspers presence in San Francisco brings it closer to tomorrow’s global leaders.”
As an investor and operator, the company provides its founders and companies with unmatched levels of support internationally, including strong business strategy expertise, operating experience and access to on-the-ground resources in key expansion markets
