Bob van Dijk, CEO of Netherlands-headquartered internet group Prosus, said: “Since its creation six years ago, the Prosus Ventures unit has become our engine for growth into new markets and new geographies. We have already seen two focus area, food and education, deliver such success they have been spun out into their own segments. We look forward to Ventures continuing to deliver in the years to come.”
1. What are your plans for the year ahead?
While the world has become increasingly uncertain this past year, we actually have a lot of confidence in our operating structure, which has been tested through recessions and many periods of turmoil, now including a pandemic. The key is that we partner with businesses that are solving big societal needs with technology, in a uniquely local way. We think about where we can really make an impact and zero in on sectors of the economy where technology can lead to meaningful change in consumer behaviour and economics. We are more convinced than ever that our approach is a real differentiator. Looking back at the last decade, the company has built a strong, global footprint and in the year ahead and beyond, Ventures will ensure we have a continuous flow of future growth opportunities in the wings.
We have seen our methodology and approach prove out well despite the uncertainty around Covid, so you can expect to see us push on strongly in the next 12 months.
2. Tell us some pain points and opportunities you have encountered in corporate venturing.
When we launched Ventures, there was still some suspicion around corporate venturing and the value CVCs could bring to entrepreneurs versus traditional VCs. We have seen the market shift in the last six years and our value proposition – longer time horizons, a flexible engagement model, and real operational value add – has become ever more compelling. Obviously, we are hoping that trend continues!
3. What do you think all corporations and CVCs could do better to make it a stronger industry?
Be clear about the role the CVC investments play with regard to overall corporate strategy, and then be totally transparent about the role they want to play in their investments. Too often we hear stories of significant changes once the investment is made – and that is not good for anyone.
For the global corporate venturing community as a whole, our role is about finding, nurturing and offering sustainable, long-term growth opportunities for exceptional entrepreneurs. Corporate Ventures offer a unique opportunity for startups to partner for the long-term and learn from true operational experts, while startups offer Corporate Ventures, in return, a view into exciting new innovations around the world. Both are an important part of the tech ecosystem and will help to continue to drive the type of innovation we have seen in the past decade, into the decade ahead.
4. For colour, what did you do prior to your venture role or in your spare time?
Martin has spent the last 18 years working in a variety of internet businesses around the world. Immediatley prior to Prosus, Martin was CEO of Kiva.org, a global non-profit offering access to capital to underserved communities. Prior to Kiva, he spent many years as an operator leading ecommerce businesses ranging in size from small classifieds startups to large marketplaces like eBay Germany. Martin started his working life as a strategy consultant. Martin holds a degree in Mechanical Engineering from the Swiss Federal Institute of Technology (ETH) and an MBA from INSEAD.
