PROSUS WEALTH MANAGEMENT

Prosus has systematically reduced its Tencent stake through open-market sales and structured transactions, funding a large-scale share buyback program at the Prosus and Naspers levels. The sales are designed to narrow the discount between Prosus's market capitalization and its underlying asset value. As of early 2025, Tencent remains the portfolio's largest single holding, but the trajectory points toward gradual monetization rather than a full exit.

Prosus is publicly traded on Euronext Amsterdam but functions structurally as a permanent-capital vehicle for Naspers, which controls the majority of voting rights. This hybrid model gives it the discipline of public-market scrutiny while preserving the long-duration investment posture of a single-family office. Institutional investors can buy shares alongside the Naspers family interests, but strategic direction is set by the controlling shareholder.

Prosus targets growth-stage investments in consumer internet companies, typically where a product has achieved market traction and requires capital to scale across geographies. The group has also made late-stage and pre-IPO investments, as seen with Swiggy and PayU India, and occasionally holds positions through to public-market listing. Early-stage venture exposure is minimal and operates through the separately managed Naspers Foundry in South Africa.

Prosus sources deals through its operational subsidiaries' market intelligence, direct relationships with local founders, and the network effects of its existing portfolio companies. The classifieds and food delivery businesses in particular generate visibility into adjacent market opportunities. The group rarely participates in formal auction processes and instead targets bilateral discussions shaped by its reputation as a long-term operator rather than a financial buyer.

Investment decisions are led by the Group President and Chief Investment Officer, currently Ervin Tu, who took the role in May 2024 following Bob van Dijk's departure. The investment committee draws on sector heads for food delivery, fintech, edtech, and classifieds, with ultimate oversight from the Prosus board. Naspers's historical leadership, particularly Koos Bekker, continues to influence long-term strategic direction.

Yes. The Prosus Social Impact unit funds educational technology and digital inclusion initiatives, primarily in Africa and India, operating separately from the core investment portfolio. South Africa-focused Naspers Labs also runs youth unemployment and digital skills programs. These are funded from the group's balance sheet and do not commingle with investment assets, though they leverage the group's operating expertise in edtech.

The wealth originates from Naspers, the Cape Town-founded media group established in 1915 that transformed under Koos Bekker's leadership into a global technology investor. The foundational event was a 2001 investment of roughly $32 million in China's Tencent, which became one of history's most lucrative venture bets. Naspers consolidated its international internet holdings under Prosus in 2019 to optimize its European regulatory and capital-markets positioning.