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Prosus manages $6.5 billion in Indian tech assets, eyes more IPO exits - The Economic Times

Economic Times

Economic Times · 2m ago

Prosus manages $6.5 billion in Indian tech assets, eyes more IPO exits - The Economic Times

Dutch investor Prosus manages $6.5 billion across over 30 Indian companies, with investments totaling $8.6 billion. The loosely coupled portfolio includes Meesho, Swiggy, and Urban Company, allowing mutual synergies. Successful investments like MakeMyTrip and Flipkart have resulted in $4 billion in cash returns. Prosus sees further growth with prospective IPOs, including Urban Company and BlueStone, enhancing returns. Swiggy's IPO alone yielded $500 million for Prosus, which still holds a significant stake in the company.

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Quick Commerce To Become $40 Bn Market By 2030: Swiggy CEO

Inc42 · 2m ago

Quick Commerce To Become $40 Bn Market By 2030: Swiggy CEO

Swiggy cofounder and CEO, Sriharsha Majety, forecasts that India's quick commerce market could grow into a $30-$40 billion industry within the next three to five years. He suggests that further consolidation in the sector is likely. Swiggy's quick commerce arm, Instamart, is targeting overall contribution margin breakeven between October and December 2025. These projections are set against the backdrop of Prosus India managing $6.5 billion in assets across more than 30 Indian companies.

Saudi sovereign wealth fund swings to $36.8 bn profit in 2023

VCCircle

VCCircle · 1y ago

Saudi sovereign wealth fund swings to $36.8 bn profit in 2023

Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), reported a profit of $36.81 billion in 2023, a significant improvement from the previous year's loss of $15.6 billion. The fund's total revenues more than doubled to $88.3 billion, driven by enhanced investment and non-investment activities in sectors such as banking, telecommunications, and gaming. PIF, which manages around $925 billion in assets, is instrumental in realizing the economic goals outlined in Saudi Arabia's Vision 2030 plan. The fund's funding sources include retained earnings, capital injections, government assets, and loans.

Prosus Eyes PayU IPO In 2025

Inc42 · 9m ago

Prosus Eyes PayU IPO In 2025

PayU, a payments solutions provider, has decided to delay its initial public offering (IPO) until 2025. Prosus, the investor, had initially considered PayU's IPO for 2024. PayU has selected Goldman Sachs as one of the lead bankers for the IPO and plans to file its draft red herring prospectus (DRHP) by early 2025. Prosus, meanwhile, has expressed confidence in its India portfolio, citing strong gains from Swiggy's recent IPO and a promising pipeline of potential IPOs in the country.

Fintech iCapital valued at over $7.5 billion in latest fundraise - The Economic Times

Economic Times

Economic Times · 1m ago

Fintech iCapital valued at over $7.5 billion in latest fundraise - The Economic Times

Fintech company iCapital has been valued at over $7.5 billion following a recent funding round led by T. Rowe Price and SurgoCap Partners, raising over $820 million. The New York-based company, which facilitates access to private-market investments for individual investors and smaller wealth managers, aims to use the funds to enhance technology and data capabilities. iCapital currently manages $945 billion in assets, with $257 billion in alternative platform assets.

Turkish PE Pragma Capital Partners launches $100-mn fund for industrial firms

VCCircle

VCCircle · 5m ago

Turkish PE Pragma Capital Partners launches $100-mn fund for industrial firms

Pragma Capital Partners, a private equity firm from Turkey's investment banking sector, has launched a $100 million fund targeting mid-sized industrial companies. This is their sixth investment vehicle, supporting tech and industrial sectors. Based in Istanbul, the firm manages assets exceeding $1 billion and has a portfolio comprising 17 firms. The strategic move aims to bolster industrial growth and innovation within Turkey's evolving economic landscape, highlighting Pragma's continued influence and investment commitment.

Prosus set to win EU nod for $4.74 billion Just Eat deal, sources say - The Economic Times

Economic Times

Economic Times · 26d ago

Prosus set to win EU nod for $4.74 billion Just Eat deal, sources say - The Economic Times

Prosus, majority owned by Naspers, is set to gain EU antitrust approval for its $4.7 billion bid for Just Eat Takeaway, after agreeing to reduce its stake in Delivery Hero and relinquishing its board seat. The acquisition aims to enhance Just Eat Takeaway's capabilities by leveraging Prosus' artificial intelligence assets. The deal, if approved, will establish Prosus as the fourth-largest global food delivery company, trailing Meituan, DoorDash, and Uber.

Medibuddy eyes $130 million in pre-IPO

Economic Times

Economic Times · 2m ago

Medibuddy eyes $130 million in pre-IPO

Health-tech firm Medibuddy initially sought to raise $130 million in a pre-IPO round but clarified it's targeting $60 million instead. The fundraising, led by Avendus Capital, includes $25-30 million in primary capital and $30-35 million for secondary investors, primarily offering exits for early angel investors. Medibuddy, founded by IIT Madras alumni, prioritizes building a sustainable healthcare market leader and is not rushing towards an IPO, despite its long-term plans.

Prosus eyes PayU IPO in 2025 after stellar Swiggy listing

TechCrunch · 9m ago

Prosus eyes PayU IPO in 2025 after stellar Swiggy listing

Dutch investor Prosus plans to list fintech firm PayU in 2025, shifting its focus to India. PayU, wholly owned by Prosus, had intended to go public this year with a valuation of $5-7 billion. However, the listing is now expected to take place in 2025. PayU recently obtained approval to operate as a payment aggregator after a 15-month regulatory ban. With a valuation of $4.2 billion, PayU competes with Razorpay and PhonePe in India's digital payments market. Prosus is an investor in Indian startups such as Meesho and Urban Company, and more portfolio companies may go public within 18 months.

Wealthtech firm Scripbox eyes $20 million at $200 million value

Economic Times

Economic Times · 4m ago

Wealthtech firm Scripbox eyes $20 million at $200 million value

Scripbox, a Bengaluru-based wealthtech startup, is aiming to raise $15-20 million at a $200 million valuation, backed by improved financial metrics and industry interest in wealthtech. Accel, a major stakeholder, along with Omidyar Network, has been instrumental in past funding. The company, profitable and with revenues surpassing Rs 100 crore, is considering a strategic funding round for a potential IPO in 18-24 months. Scripbox manages Rs 20,000 crore in assets, serving 100,000 customers.

Investcorp could consider listing in 3-5 years, eyes US retirement savings

VCCircle

VCCircle · 7m ago

Investcorp could consider listing in 3-5 years, eyes US retirement savings

Investcorp is contemplating a public listing in three to five years, considering London or New York as potential locations. As the largest alternative investment firm in the Middle East, Investcorp aims to double its assets under management to $100 billion. Founded in 1982, it currently manages $55 billion and seeks to tap into the $12 trillion U.S. 401(k) retirement savings market, either independently or through partnerships if regulations permit access to such funds.

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