Former Tata Sons Ltd. Chairman Cyrus Mistry has announced the launch of his new global enterprise, Mistry Ventures LLP on Wednesday.
The organisation aims to provide strategic insights and advice to existing businesses, nourish new ventures and provide seed, early stage and growth capital to startups in India and worldwide.
Speaking about his vision for the new venture, Mistry said,
“Mistry Ventures will do more than just invest in companies. By interpreting some of the major global and local trends and understanding their impact on industries and companies, we will incubate new businesses, forge partnerships and make investments across sectors,”
“The intent to deliver profit with positive social Aimpact will be embedded in each of the ventures we promote or partner with.”
Mistry Ventures also announced bringing Ashish Iyer on board to head the new firm. Iyer has been a Senior Partner and formerly a Global Leader, Strategy Practice at the Boston Consulting Group. Cyrus shared his thoughts on Iyer joining the Mistry Family,
“Ashish has worked with companies across sectors globally and brings deep expertise across domains and capabilities such as Strategy, Go-To-Market, Digital Innovation, amongst others, and I am very excited to have him on board.”
The Irish-born Mistry had been appointed as the Chairman for India’s leading and one of the most ethically regarded corporate, TATA Sons in 2012. However, things did not work out as planned and it has been exactly two years when Mistry was ousted as the Chairman of Tata Sons on 24th October, 2016. This was one of the most closely followed corporate wars played out in media in recent times.
The two-year long battle between both the TATA and the Mistry Group even prompted the former to snap all business ties with Shapoorji Pallonji Group promoted by Cyrus Mistry. Mistry faction lost in NCLT, Mumbai and the case is now being heard in NCLAT, in New Delhi.
Ratan Tata has also invested in over 30 startups in his personal capacity. 19 out of 30 startups belong to the tech industry. Some of the prominent names that Ratan Tata has funded include:
- Urban Ladder