Cyrus Mistry becomes a private investor with Mistry Ventures

Mumbai: Former chairman of Tata Sons Ltd., Cyrus Mistry, announced Wednesday the creation of Mistry Ventures LLP to incubate new businesses, provide seed capital, start-up and start-up capital. growth at startups.Mistry Ventures is jointly promoted by Cyrus Mistry and his brother Shapoor Mistry, promoters of the group Shapoorji Pallonji, a conglomerate whose activities range from real estate to financial services

The new business of Mistry comes Exactly two years after his ousting Tata Sons as a result of a feud with his predecessor Ratan Tata, Mistry follows in the footsteps of Tata, who began investing in start-up companies via RNT Associates. after leaving Tata Sons in 2012.

"Mistry Ventures will not only invest in companies. By taking up some of the major global and local trends and understanding their impact on industries and businesses, we will incubate new businesses, build partnerships and make cross-sectoral investments, "said Mistry in a statement, without specifying the amount of funds that he plans to invest. through this company.

Mistry Ventures will focus on mentoring and helping new businesses realize the business experiences needed to validate, evolve and market products and services more quickly,

In December 2016, Mistry left the Mumbai test bench. the National Company Law Tribunal (NCLT) against Tata Sons, alleging mismanagement and oppression of minority shareholders. NCLT rejected Mistry's request last July, ruling in favor of Tatas. As a result of this decision, Mistry was transferred to the National Corporate Appeal Tribunal (NCLAT).

Mistry Ventures has appointed Ashish Iyer, Senior Partner and Former Global Leader of Strategic Practice for the Boston Consulting Group Consulting Firm, to lead the firm.

"Ashish has collaborated with companies from all sectors and has brought in-depth expertise in different areas and capabilities, such as strategy, marketing, digital, innovation, among others. </ P> <p> I am very happy to have it among us, "said Mistry.

Experts in the venture capital sector have welcomed this development.

"It's an exciting development, but you have to go with a pinch of salt because you do not know how much money the fund will deploy," said Anand Lunia, co-founder of India Quotient, a startup company. . start-up fund.

The investments proposed by Mistry would place him alongside other very fortunate people such as the co-founders of Infosys Ltd, NR Narayana Murthy and S. Gopalakrishnan, Ajay Piramal and Ratan Tata of the Piramal group.

Catamaran Ventures of Murthy, Axilor Ventures and RNT Associates of Gopalakrishnan have all invested in start-up companies. Piramal is the main investor in Montane Ventures, a start-up investor.

Other corporate investors include JioGenNext from Reliance, a startup accelerator. Catamaran's investments include the digital insurer Acko, in which Amazon has invested $ 12 million earlier this year, while RNT's investments include, among others, Paytm, the online retailer of Lenskart eyewear, the Ola's cabin-haring app and handset manufacturer Xiaomi.

Azim Premji's PremjiInvest has supported family offices and invested in start-ups and mature businesses with badets under management of more than $ 2 billion.