Prosus is Hunry for Venure Capital Returns in Food Space

November 21, 2019 | Investments, News, Venture Capital

The Emerging Markets Are Red Hot for Food Delivery

Prosus Ventures, the VC arm of Prosus NV, will continue to make investments in the food delivery space. A new report from Reuters suggests that the company is ready to double down on firms like Just Eat.

Reuters report shows that the firm has large stakes already in delivery startups in Brazil, Germany, India.

Prosus Group now owns stakes in Brazilian food delivery startup iFood, Germany’s Delivery Hero and India’s Swiggy. However, none of these companies are even close to being profitable right now. 

Prosus Ventures Investment in India

Prosus Ventures CEOLarry Illg said that the firm has invested about $5 billion for the technological holy grail in India. The CEO is seeking something to rival Prosus’ investment in Tencent, a social media giant that is now worth $130 million.

“We love the space (food tech and food delivery)… Will we do more? Absolutely,” Illg told Reuters. “The opportunity being larger outside the West than in the West in markets like Brazil and India.” 

Its parent company has been trying to purchase Just Eat. Prosus offered $6.3 billion for the online delivery firm. That topped the $5.9 billion bid from Takeaway.com.

Finally, Prosus Ventures has backed a number of companies in the food delivery space, including Delivery Hero, iFood, and Swiggy.

Recent: Guild Education Hits $1 Billion Valuation

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Alt Insights

December 6, 2019

SIFMA: US Economy Will Expand in 2020 But at a Moderate Pace

SIFMA: US Economy Will Expand in 2020 But at a Moderate Pace
Shape

Latest Alternative Investment News

Hedge Fund Asia Research & Capital Management Shorts Premier Oil
December 9, 2019     Hedge Funds, Investments, News

Premier Oil is the target of a massive short position. Asia Research & Capital Management (ARCM) has reportedly built a massive bet against the energy company.

Magnetar Capital Aims to Launch $400 Million Health Fund
December 9, 2019     Alternative Investments, Investments, News

Magnetar Capital will launch its first healthcare hedge fund in 2020. The firm aims to close a $400 million fund by mid-2020, according to Bloomberg. The company will look to…

Hacker Uses Ingenious MO to Siphon $1M from VC Firm
December 9, 2019     Digital Assets, News

Security researchers at cybersecurity firm Check Point relate how Chinese hackers hijacked $1 million of seed money that was supposed to travel from a Chinese venture capital firm to an…

Hedge Fund Billionaire Bill Ackman Looks for 50% Returns in 2019
December 9, 2019     Alternative Investments, News

Billionaire Bill Ackman and his hedge fund are having a great 2019. Last month, Ackman’s hedge fund added another gross return of 3.4% — or 3.2% after fees. This gain…