James Murdoch To Expand India Portfolio With Billions Investment
Billionaire James Murdoch has some great plans for India. For one is that he plans to rope in the top rich business houses of the world, start a fund to invest in India. His company Lupa Systems is looking at raising $150 million each from around six to seven business houses to invest into India.
We could be looking at a whopping fund of $ 900 million to $1 billion worth of investment fund. There are indications that he wants to buy and expand more into India. Lupa Systems has an office in Mumbai, which gives him enough reasons to look at Indian acquisitions in the near future. As of now, Doubtnut and Harappa Education are his edutech babies in India.
The firm also owns a stake in MCH Group with $160 million. The portfolio is quite varied and wide-spanning the continent. Apart from holding a stake in a Norwegian drone company, it also has a stake in the American comic publishing business and owns the Tribeca Film Festival.
Son of Rupert Murdoch, young James is making a place for himself in the world, by having cut off ties from his family media business and expanding his reach in more greener pastures. On cards is also, plans of launching a special purpose acquisition company (SPAC) in partnership with former Disney executive Uday Shankar.
The venture is going to cost some $345 million under the name Seven Island Inc. Seven Island will focus on media, entertainment, consumer technology, healthcare, and education industries in south and southeast Asia. The firm will lay a particular focus on India.
According to Nitin Kukreja, managing partner of Lupa Systems India, “Lupa Systems set up its India presence less than two years ago and has already created a promising portfolio of technology investments. Partnering with Uday [Shankar], to build ambitiously for the long term, will take us to another level.” Kukreja was quoted widely in the media over this announcement in January 2021.