Prosus walks away from a deal that would have made it the owner of India’s largest payment gateway business. Why?
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The fund seems convinced that technology-led businesses in India are overvalued and not good for making big exits. Instead, what is needed to return large sums of capital are investments in mature companies with a proven track record.
They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.
Co-founder Walid Mansour and partner Ankit Sarwahi of Middle East Venture Partners talk about the big changes in the tech investing ecosystem, their fund’s trajectory and the million-dollar question of returns.