HIGH-GROWTH MARKETS
Naspers puts some of its cash pile into healthcare technology industry in the US
With its R151bn war chest Naspers wants to show investors it is more than just a proxy for Tencent
Naspers’s venture capital arm has taken another small bet on the US healthcare technology sector, leading a $50m investment into a firm called Honor. Thanks to the sale of shares in China’s Tencent and India’s Flipkart, Naspers has a R151bn war chest and wants to show investors that it is more than just a proxy for Tencent. Honor, which runs a network for home-care providers that cater to the elderly, said in a statement this week the proceeds of its Series C funding round would be used to "support the rapid expansion of the Honor Care Network". The $50m funding round was led by Naspers Ventures, with participation from existing investors, bringing Honor’s total funding to $115m, it said. "Naspers looks for opportunities that address big societal needs in high-growth markets, and partnered with Honor because they are … addressing these macro-trends while alleviating the strain on health systems and senior care providers," said Mike Katz, US investments head at Naspers Ventures. By 2...
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