Uday Shankar, Lupa Systems form new venture with $1.5 billion investment from Qatar Investment Authority
Advertisement

Uday Shankar, Lupa Systems form new venture with $1.5 billion investment from Qatar Investment Authority

By Lata Jha

  • 10 Feb 2022
Uday Shankar, Lupa Systems form new venture with $1.5 billion investment from Qatar Investment Authority
Credit: 123RF.com

James Murdoch, founder and chief executive officer of Lupa Systems and Uday Shankar, former chairman and CEO of Star India and the former president of Walt Disney Asia Pacific have announced a new venture, Bodhi Tree, an investment platform that will be financially supported by the Qatar Investment Authority that has committed $1.5 billion to it. The new venture is designed to invest in media and consumer technology opportunities in southeast Asia, with a particular focus on India, the company said in an official statement. 

Bodhi Tree will leverage technology to provide disruptive solutions that drive transformational outcomes in sectors with deep consumer engagement – including media, education and healthcare, the statement from the company said. Bodhi Tree will be investing at scale to achieve these outcomes, it added.

"We are very pleased to announce Bodhi Tree. Opportunities abound to scale exciting businesses in India and the broader southeast Asia region. Our continued focus on investing and building relationships in these regions comes from our deep conviction in the long-term growth of these economies and the incredible power of these consumers, as these sectors are transformed by technology,” James Murdoch and Uday Shankar said in a statement.

Advertisement

“QIA is proud to play a key role in bringing Bodhi Tree to reality. QIA is investing in the technology and media space and India is a key market for us. QIA looks forward to backing Bodhi Tree as they drive forward their growth plans in the future,” QIA CEO Mansoor bin Ebrahim Al-Mahmoud said in the statement. 

 Last January, Murdoch, the son of media mogul Rupert Murdoch and former chief executive of 21st Century Fox Inc., and Shankar had announced that they would be joining hands to set up a new venture that would explore technology and media opportunities in emerging markets. 

According to recent media reports, Uday Shankar was said to be in talks with Reliance Industries controlled broadcast company Viacom18 to pick a significant stake.

Advertisement

Murdoch’s and Shankar’s association goes back a long way. The latter was overseeing News Corp.’s Asia business in the late-2000s. Walt Disney later acquired 21st Century Fox in a $71 billion cash-and-stock deal in June 2018, which made Star India, Fox Star Studios, and Hotstar part of Walt Disney. Lupa is a private investment vehicle with a presence in New York and Mumbai and has invested in online learning institution Harappa Education in India. 

Share article on

Advertisement
Advertisement
Google News Icon

Google News

Follow VCCircle on Google News for the latest updates on Business and Startup News