13
September
2021
|
09:32
Europe/Amsterdam

Fahd Beg appointed Chief Operating Officer of Prosus Food and Edtech segments

Prosus N.V. ("Prosus"), the global consumer internet group and one of the largest technology investors in the world, announced today the appointment of Fahd Beg as Chief Operating Officer for its Food and Edtech segments as they look to rapidly scale towards $50B+ businesses.

Since 2013, Prosus has deployed ~US$6bn in online food delivery platforms with the current Prosus Food segment worth ~US$15bn1. The portfolio has an IRR of ~40% to date, which includes stakes in leading companies across the world including Delivery Hero, iFood, Swiggy, and many others. Over the past five years, Prosus has also invested over US$3bn into edtech companies across the world including BYJU’S, Skillsoft, Stack Overflow, and Udemy, amongst others. The current portfolio has also delivered an ~40% IRR to date.

In this newly created role, Beg will help to advance the strategic agenda for these fast-scaling segments. He will drive strategy and investments, and all portfolio growth functions. Reporting to Larry Illg, CEO of Prosus Food and Edtech, Beg’s teams will help shape the Food and Edtech investment agenda, evaluate future opportunities, and provide support to rapidly scale portfolio companies.

Beg joined the group in 2016 and went on to become Group Chief Investment Officer in 2018. Since then, during a period of significant acceleration in the deployment of capital, he has led several key transactions including the listing of MultiChoice Group, the listing of Prosus, and the group’s recent investments in BillDesk and Delivery Hero. Before joining the group, Beg founded and built Citi's Internet investment banking practice in EMEA and held the position of Managing Director and Head of EMEA Internet and Digital Media Investment Banking.

Larry Illg, CEO of Prosus Food and Edtech, said: "Given the importance of both the Food and Edtech segments to the group’s growth plans, we will scale further on several fronts – the number of investments, the amount of capital we deploy, and the operational support offered to our portfolio companies, private and public. To do this, we needed a demonstrated leader to help realize our ambitious goals. Having worked with Fahd for a number of years on some of our most significant investments, he is the perfect fit to take these two segments forward as COO.”

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

Read More

 

Media contacts

General enquiries
+ 27(0)21 406 2121
Press office
[email protected]
Investor relations
[email protected]

Boilerplate

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. 

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos, Avito, Brainly, BUX, BYJU'S, Bykea, Codecademy, DappRadar, DeHaat, dott, ElasticRun, eMAG, Eruditus, Flink, GoodHabitz, Honor, iFood, Klar, LazyPay, letgo, Meesho, Movile, Oda, OLX, PayU, Quick Ride, Red Dot Payment, Remitly, Republic, Shipper, SimilarWeb, Skillsoft, SoloLearn, Swiggy, Udemy, Urban Company and Wolt.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, Mail.ru, Trip.com Group Limited, and DeliveryHero.

Today, Prosus companies and associates help improve the lives of more than 2 billion users globally. 

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.