Mumbai: Uday Shankar and James Murdoch's private investment company Lupa Systems has announced that it is forming Bodhi Tree, an investment platform that will be financially supported by the Qatar Investment Authority (QIA).
This new venture is designed to invest in media and consumer technology opportunities in Southeast Asia, with a particular focus on India. It will be run by Murdoch and Shankar as co-chairs, combining decades of experience influencing the region's media landscape and emerging consumers. QIA will be committing up to $1.5 billion in Bodhi Tree's vision being pursued by Murdoch and Shankar.
“Bodhi Tree will leverage technology to provide disruptive solutions that drive transformational outcomes in sectors with deep consumer engagement – including media, education and healthcare – to positively impact millions of consumers across the region. Bodhi Tree will be investing at scale to achieve these outcomes,” said the statement.
"We are very pleased to announce Bodhi Tree," said Murdoch and Shankar. "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."
"QIA is proud to play a key role in bringing Bodhi Tree to reality,” said QIA CEO Mansoor bin Ebrahim Al-Mahmoud. “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."
James Murdoch was the chief executive officer of 21st Century Fox between 2015 and 2019. Uday Shankar is the former chairman and CEO of Star India and former president of Walt Disney Asia Pacific.
In January, media reports indicated that Murdoch and Shankar were in talks with ViacomCBS and Reliance Industries to pick up a 40 per cent stake in Viacom18, the entertainment network jointly owned by TV18 and ViacomCBS.
