Mumbai: Business magnate Cyrus P. Mistry on Wednesday announced the launch of a new global enterprise, Mistry Ventures LLP, to provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and worldwide.
It will bring in Ashish Iyer, Senior Partner and formerly Global Leader, Strategy Practice at the Boston Consulting Group, to head the new firm, a statement said.
Outlining his vision for Mistry Ventures, the former Tata Sons Chairman, said: "The intent to deliver profit with positive social impact will be embedded in each of the ventures we promote or partner with."
In a media statement, Mistry said, 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,"
Outlining his vision, he continued, "The intent to deliver profit with positive social impact will be embedded in each of the ventures we promote or partner with. Mistry Ventures will do more than just invest in companies. By interrupting 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 new ventures is promoted jointly by Shapoor Mistry and Cyrus Mistry, promoters of Shapoorji Pallonji Group, which has had a legacy of 150 years in Construction, Infrastructure, Real Estate, Water, Energy and Financial services. The company has a presence in nearly 60 countries across the globe.
With Agency Inputs