MC Exclusive: Prosus plans five IPOs this year; Sees India portfolio hitting $50 billion within three years: CEO Fabricio Bloisi

Prosus and Naspers CEO Fabricio Bloisi

The value of Prosus’ India portfolio will increase to $50 billion, a 5X increase from $10 billion currently, in under three years, Fabricio Bloisi, the chief executive officer of the Dutch investment major told Moneycontrol in an interview.

Bloisi also said that five of its companies will tap the public markets this year as he remains upbeat about the Indian startup ecosystem, the third-largest in the world.

“We’ll invest many more billions of dollars in India. The market value of our investments in India will be $50 billion, that’s my focus…we have India as an amazing market that is very big, we have to think exponentially,” Bloisi told Moneycontrol.

He pegs Prosus’ current India portfolio value at “much under $10 billion.” While Bloisi did not specify a timeline, he said, for that goal to be achieved, anything above three years would be “too late.”

Bloisi, a Brazilian born entrepreneur and investor, was speaking ahead of Prosus’ maiden AI-centric event Luminate in Bengaluru, India. Prosus has pumped in over $8.6 billion in India and has backed Meesho, Swiggy, Rapido, PayU, Urban Company, PharmEasy, Eruditus, BlueStone, among several others.

“There is so much opportunity here in India to create an exponential organisation and have an impact,” Bloisi said.

Five IPOs this year

Prosus has backed 30-35 new-age companies in India and the Dutch investor will continue to look for companies in payments, e-commerce, food delivery, payments and adjacent industries.

“We have a lot of flexibility – sometimes we make small investments, sometimes we buy the whole company,” Bloisi said when asked about its sweet spot when it comes to investments here.

Bloisi added that five companies from Prosus’ stable will IPO this year. While he did not give specific names, it is likely that Meesho, Urban Company, BlueStone and PayU will be among the next ones to tap the public markets.

Bloisi’s optimism around IPOs comes after Swiggy’s blockbuster IPO where Prosus stands to gain as much as $2.8 billion for its 31 percent stake in the food delivery company, more than doubling the $1.3 billion invested.

He, however, is in no rush to take money off the table. Instead, he is long on the India opportunity.

“We have IPOs of around five companies in India this year…I want to put money on the table, to make India grow faster,” Bloisi concluded.