Uday Shankar and Lupa Systems set up new venture with $1.5 billion investment from Qatar Investment Authority

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James Murdoch, Founder and CEO of Lupa Systems and Uday Shankar, Former Chairman and CEO of Star India and Former Chairman of Walt Disney Asia Pacific announced a new venture, Bodhi Tree, an investment platform that will be financially backed by the Qatar Investment Authority which committed $1.5 billion to it. The new venture is designed to invest in consumer media and technology in Southeast Asia, with a particular focus on India, the company said in an official statement.

Bodhi Tree will leverage technology to deliver disruptive solutions that drive transformational results in sectors with deep consumer engagement – ​​including media, education and healthcare, according to the company’s statement. Bodhi Tree will invest on a large scale to achieve these results, he added.

“We are very pleased to announce Bodhi Tree. Opportunities abound to grow exciting businesses in India and the wider Southeast Asia region. Our continued focus on investing and building relationships in these regions stems from our deep belief in the long-term growth of these economies and the incredible power of these consumers as these sectors are transformed by technology,” James Murdoch and Uday Shankar said in a statement.

“QIA is proud to play a key role in the realization of Bodhi Tree. QIA invests in technology and the media space and India is a key market for us. QIA looks forward to supporting Bodhi Tree as it pursues its growth plans in the future,” QIA CEO Mansoor bin Ebrahim Al-Mahmoud said in the statement.

Last January, Murdoch, the son of media magnate Rupert Murdoch and former chief executive of 21st Century Fox Inc., and Shankar announced that they would partner to create a new company that would explore technology and media opportunities in the markets. emerging.

According to recent media reports, Uday Shankar is in talks with Reliance Industries-controlled broadcast company Viacom18 to take a significant stake.

Murdoch and Shankar’s association goes back a long way. The latter oversaw the Asian activities of News Corp. in the late 2000s. Walt Disney then acquired 21st Century Fox in a $71 billion cash and stock deal in June 2018, which made Star India, Fox Star Studios and Hotstar a part by Walt Disney. Lupa is a private investment vehicle with operations in New York and Mumbai and has invested in online learning institution Harappa Education in India.

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