Despite a mixed bag of outcomes from its Indian portfolio, global tech investor Prosus remains firmly committed to the country. On a recent visit to India, Prosus Group CEO Fabricio Bloisi launched the firm’s flagship Luminate series and reiterated his long-term optimism about the market.
“This is a market with 1.5 billion people. If you look to the future — not just the next 3 years, but the next 30-40 years — everyone bets it’s going to keep growing a lot. I saw this story before. We talked about China in 2005, and then people said, ‘This is the future.’ And now, the future arrived. It will arrive also to India,” Bloisi told Business Today.
With around $8.6 billion invested across 35 Indian startups — including Swiggy, Urban Company, Rapido, Meesho, and others — Prosus is one of the largest tech investors in the country. While some of its portfolio companies like Meesho, and Urban Company are lining up for public listings, the group has also faced setbacks. Its investment in Byju’s turned sour following revelations of poor corporate governance and alleged financial mismanagement, resulting in investor losses. Other startups such as ZestMoney shut down operations and PharmEasy, the Good Glamm Group, and Fashinza are currently battling headwinds, ranging from regulatory hurdles to financial crunches.
Yet, Bloisi remains unfazed saying that a few investments couldn’t avert them from investing. “What we lost in one startup, we have gained in another,” he said, addressing the media.
As global investment giants like SoftBank, Peak XV, and Tiger Global adopt a more cautious stance towards Indian startups, Prosus is taking a contrarian view. According to Bloisi, the company’s edge lies in its long-term vision and operational flexibility.
“What makes us good for the long term is that we are a tech company, not like a fund. The other players — they’re a fund. They raise 100 billion dollars and have to give it back in 7 years. We’re not. We can build the best companies in the world. That’s our objective,” he added.
Even as its marquee bets like Swiggy grapple with profitability challenges and Rapido faces scrutiny from regulators over its operations, Prosus appears undeterred. For now, the Dutch-listed tech investor is betting that India’s future will echo the explosive growth story once seen in China.
