South African media and internet giant, Naspers has opened an office in San Fransico, US, which renowned for hosting tech giants Google and Facebook.

The new office is a Ventures office. “We see an opportunity to invest in US technology/internet companies with the potential to succeed in the US and internationally,” said Meloy Horn, head of Ventures division, Naspers.

According to US tech news site, TechCrunch, the South African giant has already invested $15 million in Brainly, a social learning network with more than 60 million students in 35 countries. Brainly was founded in Poland and moved to San Francisco.

Naspers has investments and assets in more than 130 countries with a 34% stake in Tencent, a Chinese Internet major. At March 31, 2015, Naspers had a market value of $63.3 billion, securing its position as Africa’s leader.

Based in Cape Town, South Africa, Naspers derives 70% of its turnover from its foreign business. This is why it has decided to switch to the dollar in its fiscal reporting.

Assongmo Necdem