ETtech Exclusive | Closing new deals in India despite Byju’s debacle: Prosus CEO Fabricio Bloisi

Fabricio Bloisi, the newly appointed CEO of Dutch technology investment firm Prosus and its parent Naspers, said he will continue to back early-to-late stage companies in India despite the $500 million write-off incurred due to the collapse of its once high-flying portfolio firm, Byju’s. He added that the valuation reset in the technology world is typical of the funding cycles for the sector and doesn’t deter long-term investors from taking bets on India. Prosus doesn’t “live by cycles,” he said in an interview on his first India visit since taking over the chief executive role from interim CEO Ervin Tu.