The Indian Wire » Startups » Naspers deployed over $2 billion in India; now focus on food delivery, classifieds and fintech

Naspers deployed over $2 billion in India; now focus on food delivery, classifieds and fintech

South Africa-based global internet and media giant Naspers has deployed more than $2 billion in the Indian startup ecosystem. Majority of those investments have been made in the last few years.

Naspers will continue to invest and support Indian startups focussed on food delivery, classifieds, and fintech domain, said Bob Van Dijk, CEO of Naspers, in an announcement made during company’s three-day summit in New Delhi.

The company recently exited from the Indian e-commerce giant Flipkart, when it was acquired by US-based global retail behemoth Walmart in a landmark $16 billion deal. Naspers had been one of Flipkart’s early investors, since 2012.

It had invested around $612 million in the e-commerce giant over the years and earned $2.2 billion in the transaction.

“We earned spectacular returns from Flipkart, a company that started from nothing in this country, by a group of Indian founders, and that’s what we do. 32% annual returns is no shame. Stock markets give you 6%-7%. I’m happy with that,” van Dijk said.

Now the company is looking to boost its investments on its existing portfolio companies, with a special focus on the three sectors including food delivery, classifieds, and fintech.

Naspers is a global internet and entertainment company founded by James Barry Munik Hertzog in 1915. It is one of the leading technology investors, with investments in over 120 countries, helping budding entrepreneurs.

Some of its major investments in India include food delivery giant Swiggy, fintech venture PayU India, classifieds company OLX, NASDAQ-listed online travel agency MakeMyTrip, among, many others.

In June 2018, Naspers along with DST Global led a $210 million series G round in food delivery giant Swiggy. Naspers also led the previous $100 million series F round in Swiggy, earlier in February 2018.

Last month, it was reported that Swiggy is looking to raise another $500 million and is in talks with existing and new investors.

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