인도 기술 시장의 투자 기회

### 이정표를 축하합니다: 인도 시장의 미래와 투자 전략
* 🎉 이는 회사와 인도 기술 업계에 중요한 이정표로, 단순한 **기업공개(IPO)가 아닌 미래 가치에 초점을 맞춘 장기 투자자들에게 중요한 날**입니다.
* 🌍 인도 시장의 건전성은 오늘 성공적인 거래에서 볼 수 있듯이 **경제력과 성장 잠재력을 나타내는 성공적인 국내 상장**을 통해 강조됩니다.
* 💼 연사는 인도, 브라질, 유럽에서 주목할 만한 성공을 거둔 전 세계 우수 기업에 투자하는 것의 중요성을 강조하며 **텐센트의 성공을 재현하기 위해 노력**해야 한다고 강조합니다.
* 📈 주요 투자 성장 분야로는 이커머스, 핀테크, 지역 상거래가 있으며, 그 중에서도 **음식 배달은 높은 참여도와 필요성**으로 인해 가장 주목받는 분야입니다.
* 🔍 이 회사는 광범위한 생태계를 강화할 수 있는 기회를 발굴하는 데 주력하고 있으며, **투자 내 연결을 강화하기 위해 100개 이상의 직책**을 유지하고 있습니다.
* 📊 발표자는 **미국의 밸류에이션은 높지만 인도, 라틴 아메리카, 유럽과 같은 시장의 위험 보상 비율이 더 유망한 투자 기회**를 제공한다고 생각합니다.
* 🤔 기술 투자의 미래 위험 프로필은 **미국의 정치적 변화에 영향을 받을 수 있지만, 여전히 유리한 밸류에이션**으로 뛰어난 기업을 발굴하는 데 초점을 맞추고 있습니다.

투자자들은 성공적인 기업 상장을 통해 인도의 시장 건전성을 확인하며 성장 잠재력과 유망한 기회를 엿보고 있습니다.

It's a significant moment for you. Clearly a good return on an investment, but a significant moment all the same for the markets and the technology sector in India. Your reaction? First. It's great to be with you in the audience here today. It is an important day, I would say principally an important day and a milestone for the company. So we should applaud and celebrate the company's achievement to get to this step in the journey. And for us, as a long-term investor, we think about the topic very much as a long-term one, right? And we consider the potential here. And when we think about today, we talk about the Magnificent Seven. No one talks about their IPO valuation, right? We want to be in the future ten years hence, 20 years hence, considering what the valuation suite can be then and not just where it went public at today. So an important day. And yet I know we and the company are also focused on the future, which is

promising. We're talking about an Indian company listing in India. And for our Bloomberg Technology audience, watching here in North America or Europe, wherever it may be. Why was that an important step for a domestic name to look inward for its listing? Well, I think you alluded to the topic in your first question, right, that the Indian markets are healthy, but there's nothing better than seeing a class of exceptional companies go public to signify further health in a market. And while the strength of the Indian economy and the trajectory of growth is well understood, I think from a capital markets standpoint, seeing successful companies list and trade well, today was a successful day, but we've all seen the proof of the pudding. We hope they will continue to trade well over time. That's also an important signifier of a market in an economy's health. You hold winning bets for the long term. Evan, you hold Tencent.

That is how we associate process in many ways. Like it or loathe it, is that you made an extraordinary early bet on Tencent, and now it is the biggest giant in China. How do you keep on replicating these hits? Where are the exact areas? It seems to be ecommerce with Tencent, its gaming, and just the whole will of China's focus on and on consumer. Where else do you repeat? Well, it's not an easy task. And we dedicate a lot of effort to trying to find exceptional companies wherever they are outside of China as well. You say we are most well known for investment in Tencent, which represents a large percentage of our NAV today, but our NAV is 100, 5060 billion, and we have 35 and change billion of other stuff, which is important and growing. And we look to find those opportunities in growth markets around the world. In India, like Swiggy, in Brazil, we have

a company called AI Food. In Europe, we have a classifieds platform called AOL X, and so we seek growth and exceptional founders and companies wherever they are. You're right. It's our goal to try to find the next Tencent. It's not easy, but we think we're making progress. Okay, let's hone in on the exact areas you want to be aiming and putting money to work because you have now, of course, e-commerce and fast delivery with Swiggy. Is it about fintech? Is it about areas of growth in the emerging markets that you cannot get that sort of outsized return here in the United States? Well, I'd say you named a couple of them, right? FinTech is very important to us. So too, food delivery as a sector. Now we think about food delivery as broader than just food. It's a local commerce play. If you talk to Tony at DoorDash and at

Uber or Hing and Natal and they'd say the same thing, so don't just take my word for it, but it's a way of taking a high frequency, high engagement offering, which is food. Everyone needs food and broadening that to a whole suite of services and offerings that people also need. So yes, food, but we think of it as local commerce. Yes, FinTech and beyond. I think marketplaces generally, we still believe have a lot of growth. And then we will look to find opportunities which can connect to our broader ecosystem of businesses. We have over 100 positions to both enhance our ecosystem and hopefully our ecosystem can enhance them as well. Ervin has the risk profile of some of those technology names and geography and geographies like India and China changed following the outcome of the US election. I think it's too early to tell. I mean, the there's a lot of speculation

about where the administration will go when we've seen some of the cabinet positions start to feel at least the names start to be floated. And we saw the announcement, of course, related to Muscat, Ramaswamy, overnight. So it's hope. It's too early to tell whether that will have an effect on where markets go and the risk profile of those markets. All we can control, all we're focused on is ensuring that we do the best job we can to find those exceptional companies and ensure that the performance under our watch is as strong as it can be and find these extraordinary companies at the right valuation of. And what sort of valuations are you seeing when you're first getting into these businesses? Is it as lofty as that? Here's the US office I related. Yeah, So it's a it's a very rich topic for discussion because yes, the US is expensive, not just in the public domain, but of course in the private

domain, particularly with respect to air opportunities. We're looking at them, we're monitoring closely. And at the same time, we think there's better risk-reward outside of the U.S. Think LatAm, think Europe. I think India, of course, yes. Valuations are also more elevated in India, but we think the risk-reward in some of these other markets is more promising, which is why, as a matter of relative effort and attention, we're spending more time there.

Prosus: US Election Impact 'Too Early To Tell'

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회사의 기업공개는 중요한 성과와 희망찬 미래를 알리는 획기적인 순간입니다.

초기 공모가보다는 장기적인 잠재력과 미래 가치에 초점을 맞추고 있습니다.

뛰어난 기업들의 성공적인 상장은 인도 시장과 경제가 건전하다는 신호로 받아들여지고 있으며, 시간이 지남에 따라 지속적으로 높은 실적을 기대할 수 있습니다.

성공 복제: 탁월한 기업을 찾아서

연사는 중국에서 큰 성공을 거둔 텐센트에 대한 초기 투자에 대해 이야기합니다.

현재는 인도, 브라질, 유럽에 투자하는 등 중국 이외의 지역에서 뛰어난 기업을 발굴하는 데 주력하고 있습니다.

주요 성장 분야로는 이커머스, 빠른 배송, 핀테크 등이 있으며, 텐센트의 성공을 재현하는 것을 목표로 하고 있습니다.

이 전략에는 지역 상거래 및 기타 필수 서비스로 확장하기 위해 사용 빈도가 높고 참여도가 높은 식품을 활용하는 것이 포함됩니다.

마켓플레이스의 지속적인 성장과 더 넓은 비즈니스 생태계와 연결될 수 있는 잠재력에 대한 믿음이 있습니다.

기술 종목의 리스크 프로필과 미국 대선이 인도와 중국과 같은 지역에 미치는 영향을 주시하는 한편, 적절한 밸류에이션으로 뛰어난 기업을 찾는 데 초점을 맞추고 있습니다.

미국에서의 항공 기회를 모니터링하는 동시에 중남미, 유럽, 인도에서 더 나은 위험 대비 보상 전망을 찾는 데 초점을 맞추고 있습니다.

인도의 높은 밸류에이션이 주목받고 있지만 다른 시장이 더 유망한 것으로 보입니다.

따라서 이러한 대체 지역에 더 많은 시간과 관심을 할당하고 있습니다.