Patience, luck key to finding cos to invest in

Just days after Swiggy's successful initial public offering (IPO), in which Prosus remains the largest shareholder, Chief Investment Officer ERVIN TU and ASHUTOSH SHARMA, head of growth investments for India and Asia at Prosus - one of the world's largest technology investment groups, majority-owned by Naspers - spoke to Surajeet Das Gupta about their strategies for India and beyond. Edited excerpts from a video interview:

- Surajeet Das Gupta

In the past three years, investing in startups has faced various challenges and required a rethink of strategy and focus. How has Prosus navigated this in India?

Ervin Tu: India is absolutely one of our focus areas and will remain so. We've invested over $8 billion in the country across several promising ventures, including our recent success with Swiggy. For us, India is the best-performing part of our global investment portfolio. If anything, we aim to replicate this success model worldwide.

What kind of investment do you foresee for India in the years to come?

Ervin: Annually. In 2021, we saw a high-water mark due to the $4.7 billion BillDesk deal in India (although it didn't go through). However, we don't earmark specific amounts for India. Staying flexible allows us to act decisively when large opportunities arise, without the constraints of artificial thresholds.

Did the Ukraine-Russia war affect your deployment strategy?