Covid-19 is making it hard time to gauge deal valuations, says Prosus
Prosus is sitting on a $4.5bn war chest and untapped credit facilities worth $2.5bn for acquisitions to scale up its investments in classifieds, payments and online food delivery
The head of Prosus's dealmaking arm, Larry Illg, says Covid-19 has made it hard to assess which business trends are long term versus those that are temporary, making it difficult to make proper investment calls.
In an interview with Business Day on Friday, Illg, who is CEO of venture capital subsidiary Prosus Ventures, said: “It’s a very hard time to assess companies. It’s hard to figure out how much of the value proposition and all this growth will stick.