Prosus

Prosus practices resource allocation through asymmetric symbiosis. The Dutch-listed investment holding company manages €163.5 billion in Tencent holdings (23% stake) alongside €3.6 billion in e-commerce portfolio revenue, functioning as remora to Tencent's whale—extracting nutrients from host success while maintaining independent feeding capability. In 2024-25, Prosus generated €5.6 billion net profit through coordinated parasitism: selling 70.6 million Tencent shares (€3.3B proceeds) to fund €3.3 billion share buybacks, converting Chinese internet exposure into European shareholder value.

This mutualistic extraction demonstrates portfolio effect through uncorrelated risk streams. While Tencent contributes 75%+ of portfolio value (RMB660.3B revenue, up 8%), Prosus's ex-Tencent businesses achieve independent profitability: e-commerce revenue grew 22% with aEBITDA up 70%, food delivery expanded through €4.1B Just Eat Takeaway acquisition, and classified platforms maintained market positions across emerging markets. The company targets doubling e-commerce revenue and tripling profits by FY28, reducing dependence on single-host symbiosis.

The biological insight from cleaner fish applies: optimal symbiosis maintains exit options rather than obligate dependence. Prosus's €400M+ venture investments across 40 deals in FY25 hedge against Tencent regulatory risk, building redundant nutrient pathways that preserve organism viability if primary mutualism fails.