23 Jun 2021
Ervin Tu appointed as Group Chief Investment Officer
Naspers announced today the appointment of Ervin Tu as Group Chief of Investments, Strategy, and M&A for Prosus and Naspers.
Prosus appoints Ervin Tu as Group Chief Investment Officer
AMSTERDAM – 23 June 2021 – Prosus N.V. ("Prosus"), the global consumer internet group and one of the largest technology investors in the world, announced today the appointment of Ervin Tu as Group Chief Investment Officer for Prosus and Naspers.
In this newly created position, Tu will be responsible for leading investments across the Prosus and Naspers group, reporting to Bob van Dijk, CEO. Tu will join in August 2021 and will be based in San Francisco.
Tu joins from SoftBank, where he was most recently a Managing Partner for the SoftBank Vision Fund. At the Vision Fund, he helped lead investments in Uber and Bytedance, among others, across technology sectors including transportation, logistics, delivery, next-gen media, and sustainability. Previously, Tu co-led M&A and corporate finance for SoftBank Group International, and he was also a Managing Director in the technology banking group at Goldman Sachs, where he focused on M&A.
Bob van Dijk, CEO of Prosus and Naspers, said: "I am delighted that Ervin is joining the group in the new role of Chief of Investments, Strategy and M&A. His blend of deal experience, investment track record, and sector knowledge will be extremely valuable to us and I look forward to his contributions as we accelerate growth across our consumer internet portfolio."
Commenting on the role, Tu said: "I am excited to join the superb Prosus and Naspers team. The group's track record of investing and operating businesses is exceptional, and today, there are great opportunities to find outstanding businesses across the technology landscape. I look forward to working with Bob and the team to drive our investment agenda and further enhance the portfolio."
About Naspers
Established in 1915, Naspers has transformed itself to become a global consumer internet company and one of the largest technology investors in the world. Through Prosus, the group operates and invests globally in markets with long-term growth potential, building leading consumer internet companies that empower people and enrich communities. Prosus has its primary listing on Euronext Amsterdam, and a secondary listing on the Johannesburg Stock Exchange and Naspers is the majority owner of Prosus.
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies. These include Takealot, Mr D Food, Superbalist, Autotrader, Property24 and PayU, in addition to Media24, South Africa’s leading print and digital media business.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ), a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has a level 1 American Depository Receipt (ADR) programme which trades on an over-the-counter basis in the United States of America.
For more information, please visit www.naspers.com.
Naspers Labs
In 2019, Naspers Labs, a youth development programme designed to transform and launch South Africa’s unemployed youth into economic activity, was launched. Naspers Labs focuses on digital skills and training, enabling young people to pursue tech careers.
Response to COVID-19
Naspers contributed R1.5 billion of emergency aid to support the South African government’s response to the COVID-19 pandemic. This contribution consisted of R500 million towards the Solidarity Fund and R1 billion worth of PPE sourced and distributed to South Africa’s front-line healthcare workers. In addition, Naspers contributed R6.9 million to the Nelson Mandela Foundation's EachOne FeedOne programme to support families who COVID-19 has impacted with meals for a year.