Next Digital Billion Equity

Next Digital Billion Equity

Investing in the next wave of internet users in emerging markets

Key points:

  • Unique strategy focused on high-growth technology companies and tech-enablers in emerging markets
  • Widely experienced portfolio managers
  • A high conviction, benchmark-agnostic strategy


Next Digital Billion’s investment philosophy is based on these key beliefs:

  • Many emerging markets now have ‘internet critical mass’, unleashing the next wave of technology companies catering to these new users
  • There is a secular shift in share of technology market cap creation towards emerging markets, with many leapfrogging traditional paths of development.
  • Pre-conceived notions on how, where, and by whom new technologies are developed are being challenged, with local technology champions the long-term winners.
Mobile wave in emerging markets
Mobile wave in emerging markets

The ‘next digital billion’ is a metaphor for the future of the internet.



Our investment process consists of three steps:

  1. The team searches for secular sub-trends related to the next wave of internet users in emerging markets.
  2. The portfolio managers identify companies positioned to benefit from these trends.
  3. Portfolio is constructed in line with the investment guidelines.
Why invest in the Next Digital Billion?
Why invest in the Next Digital Billion?
Rapid internet adoption across emerging markets has the potential to result in tremendous amounts of value for investors
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The Next Digital Billion strategy is managed by two portfolio managers based in Rotterdam. These portfolio managers are supported by analysts and the other trend portfolio managers within the Trends Equities team. This team is responsible for a range of trend strategies that are expected to provide above average returns by profiting from long-term structural trends. The portfolio managers also have access to a broad team of fundamental emerging markets and digital trends-oriented investment professionals.