Prosus CEO Bloisi sets sights on $50 bn India portfolio with AI focus

Fabricio Bloisi, group chief executive officer (CEO) of global tech investor Prosus, on Thursday said the firm plans to grow the value of its India portfolio fivefold to $50 billion in the coming years, backed by a few billion dollars in fresh investments. The strategy centres on deepening its presence in core sectors and scaling its ecosystem-focused approach. 

“My intention is to invest a few billion dollars more in India,” Bloisi told Business Standard during a media roundtable.

 

Brazilian entrepreneur Bloisi, who succeeded Bob van Dijk as CEO in May 2024, emphasised that Prosus' investment strategy in India remains focused on ecosystem-driven businesses and innovation. At the heart of this strategy are high-frequency sectors, with food delivery and payments as key pillars, where customers engage with services multiple times a week.

 

Bloisi explained that once high-frequency platforms are established, adjacent services can be added. As part of this strategy, Prosus is also focused on e-commerce and consumer services. He highlighted Meesho and Urban Company as key examples in the firm’s portfolio.

 

The Netherlands-based Prosus has invested more than $8.6 billion in India, positioning the country as a key strategic market. The firm’s portfolio includes Swiggy, Meesho, Byju’s, Captain Fresh, and Urban Company, with Swiggy having a standout initial public offer (IPO) last year. Prosus has also recently invested in Rapido, a fast-growing ride-hailing platform that now facilitates over 3 million rides daily and is expanding at more than 100 per cent year-on-year (Y-o-Y).

 

Prosus is actively seeking investments in companies that can drive mutual growth. Bloisi emphasised that synergy is crucial — whether by leveraging access to India’s user base or utilising data and infrastructure from existing businesses to enhance performance across the portfolio.

 

“We can invest 10-20 per cent, that’s the normal,” said Bloisi.

 

But Prosus is not restricting itself to minority stakes. Bloisi pointed to recent strategic moves, including two major full acquisitions: Latin America's online travel firm Despegar for about $1.7 billion and European giant Just Eat Takeaway.com for roughly $4.3 billion. He said that Prosus remains open to pursuing similar large-scale acquisitions in India. 

 

Asked about the state of edtech in India, a sector where Prosus was a major backer of Byju’s, Bloisi acknowledged the challenges but termed them as part of the broader innovation process.

 

“I started a few internet companies. Most people summarise: ‘Fabricio created that $10 billion company’. The reality is, I created like 200 things — 180 collapsed. Most of my ideas didn’t work. Making mistakes is part of the path to find how to do big things,” he said.

 

Bloisi emphasised that Prosus has always taken bold bets on transformative ideas. “I think we made a very bold and good decision to invest in edtech. Edtech is the kind of solution where technology can disrupt a country or a region… to make the country run better and create a competitive advantage for the region,” he added.

 

The Prosus group CEO acknowledged that many of these investments were made during the pandemic, a time of heightened enthusiasm for edtech globally. However, he admitted the outcomes didn’t meet expectations. “The investments we did in the last few years, the return was, let’s say, negative. No return. We lost some money. It’s part of life,” he said.

 

Still, Bloisi sees future potential, particularly with the rise of artificial intelligence (AI). With AI, there is still more opportunity for disruption in edtech. “If you talk about this again in three years, it’s going to be a different conversation,” he said.

 

While Prosus did lose money on Byju’s, Bloisi pointed out the broader context: “We lost money specifically in Byju’s. At the same time, we made more money than we lost — in Swiggy, Meesho, and others. We have a portfolio of 35 companies, many with very high potential.” He said that bold investing remains core to Prosus’ strategy.

 

Bloisi brings to his role at Prosus the mindset of a founder, shaped by his experience from growing iFood — a São Paulo-based food delivery startup he acquired in 2013 — into the largest player in Latin America’s market. He described himself as a founder who learnt through thousands of mistakes.

 

Over the past year, Bloisi has led a cultural and strategic shift at Prosus, pushing the firm to operate more like a tech company.

 

Bloisi acknowledged the challenges of scaling tech innovation globally, noting the US offers a unique environment for risk-taking and rapid growth. However, there isn’t the same environment in Asia, Europe, or Latin America. This is where Prosus can fill that gap.

 

He also sees AI as a transformative force, calling it “as important as the Industrial Revolution”, with the potential to fundamentally change how companies operate.