Mistry’s announcement on funding startups came two years after he was ousted as chairman of Tata Sons in October 2016 at the behest of former chairman Ratan Tata. Last year, former Tata Sons chairman Cyrus Mistry floated investment firm Mistry Ventures LLP to incubate new ventures and provide seed- and early-stage growth capital to startups in India and other countries. Other examples of such investment vehicles include Wipro founder Azim Premji’s PremjiInvest and Infosys co-founders NR Narayana Murthy's Catamaran Ventures. Tata’s RNT Associates has invested in several high-profile startups such as digital payments firm Paytm, eyewear e-tailer Lenskart, furniture e-tailer Urban Ladder, cab aggregator Ola and Chinese mobile handset manufacturer Xiaomi. Prominent names include Ratan Tata, who had begun actively investing in startups after he quit as chairman of Tata Sons in 2012. UST Global has business operations through its centres in the US, the UK, Spain, India, Malaysia, the Philippines, Singapore, Mexico, Australia, Poland and Israel.Ī slew of corporate professionals and family business houses have floated investment vehicles in the past years to back startups. Pillai quit UST Global after over 20 years. Queries to Pillai on LinkedIn to explain the nature and strategy of the fund did not get a response immediately.
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