Prosus Ventures, formerly Naspers, an early-stage and growth investor in privately held companies, has split its food delivery and edtech investments into two separate segments each with their own dedicated leadership team, the firm said.
The decision by the firm that has invested more than $6 billion in India comes after its portfolio globally, which includes India’s Swiggy and Byju’s, has grown significantly.
“These segments began as early-stage investments that have been diligently grown into world-class portfolios,” the statement said.
The Netherlands-based firm has roped in Gautam Thakar, formerly CEO OLX Autos, as the chief executive of the edtech segment. Roger Rabalais, currently chief financial officer of food and chief operating officer of the business to consumer investm-ent segment, will take over as CEO of food investments, it said.
The reorganisation that will be effective from 1 September, was shared as an internal memo with employees last week.
Both will report directly to Bob van Dijk, CEO, Prosus. “These segments have continued to scale and grow in recent years, achieving double-digit revenue growth again in the last year. We believe Roger and Gautam are right leaders to take them to their next stage of growth,” the statement said.
According to the firm, Tha-kar will be a member of global executive team based out of Mumbai. “Gautam will also take on a broader leadership role for Prosus in India,” it said.
“In addition to oversight over the segment’s investments in India, Prosus has a long and deep relationship with India, having invested over $6 billion over the past six years, supporting and partnering with some of its most dynamic entrepreneurs and new tech businesses. Gautam and his team will work alongside both Prosus’s India and global leadership team to play an active role in supporting Prosus’s growth and existing investee companies in India,” it said.
Larry Illg, the current CEO of the combined segment, is stepping down, the firm said. However, he will support the transition in an advisory capacity over coming months, as well as will continue to be on the board, it added.
