Nasper’s minuscule investment to pick up majority stake in Chinese tech startup Tencent in 2001 proved to be a watershed moment for the company. That watershed moment was fructified last year when Naspers sold merely 2% stake in Tencent to raise $10 Bn. At the time of stake sale Tencent was one of the most highly valued tech companies with a valuation of around $175 bn. Tencent certainly proved to be a goldmine company for the African media conglomerate.
![logo of Naspers](https://www.techpluto.com/wp-content/uploads/2019/03/naspers.jpg)
The media conglomerate will most certainly look for another Tencent like investment as it plans for fresh investment push in India. According to reports, Naspers is planning for $1 bn investment push in the country. As part of the investment plan, the media conglomerate this time is re-focusing on India’s rapidly growing Fintech sector.
The African media giant is planning to inject nearly $200 Mn in Fintech major Capital Float and security payment firm Wimbo, according to people familiar with the matter. Sources also claim that Naspers may use part of its $1 bn corpus to consolidate its presence in the foodtech sector. It already owns a majority stake in Swiggy, which is already a market leader In India’s foodtech sector.
Naspers has already tasted sweet success in India after it sold its 11% stake in Flipkart to Walmart in 2016. This stake sale helped the African media giant to secure a cool $1.6bn profit on a cumulative investment of $616 Mn – an almost 29% return on investment.
Naspers is also currently riding high on PayU India’s good performance. PayU India accounts for more than 50% of the overall business of Netherlands-based PayU – the payment arm of the company. Payu India was recently in news for reports that it is planning to acquire Wimbo for $50-60 Mn.
Naspers’ other fintech portfolio companies PaySense and ZestMoney are also doing well.