James Murdoch weighs tapping billionaire households for India investments

James Murdoch weighs tapping billionaire households for India investments

James Murdoch is contemplating elevating funds from ultra-rich households across the globe, a transfer that might give him extra firepower to make acquisitions and additional set up his funding agency.

Murdoch’s Lupa Programs is in search of about $150 million every from fewer than half-a-dozen household workplaces for investments in India, based on an individual with data of the matter. It intends to make use of an exterior fundraiser to assist with the drive, stated the individual, who requested to not be recognized because the plans are non-public and nonetheless tentative.

A spokesperson for Murdoch declined to remark.

James, 48, arrange Lupa Programs in 2019. Primarily based in New York and Mumbai, it already counts Indian startups Doubtnut and Harappa Schooling amongst its investments. The agency can also be backing a U.S. blank-check firm that can give attention to India because it hunts for targets throughout south and southeast Asia.

Nitin Kukreja, a former Morgan Stanley banker, is managing director of Lupa Programs’s operations in India.

The agency additionally owns a $160 million stake in MCH Group, the organizer of the Artwork Basel exhibits. In 2019, it invested in Norwegian drone expertise firm UBIQ Aerospace, New York-based comedian guide publishing startup Artists Writers & Artisans and the proprietor of the Tribeca Movie Competition.

James Murdoch was as soon as in pole place to steer his household’s sprawling media operations. He was chief govt officer of twenty first Century Fox earlier than Walt Disney Co. acquired most of its property in 2019, leaving him and Rupert Murdoch’s 5 different youngsters in line to obtain about $2 billion every from the deal.

James minimize ties along with his household’s media businesses–Information Corp. and Fox Corp.–last 12 months after clashing over its editorial course. His brother Lachlan, 49, now helps to run each corporations.

Rupert Murdoch, 90, has a internet value of $8.9 billion, based on the Bloomberg Billionaires Index.

“At nice information organizations, the mission actually ought to be to introduce truth to disperse doubt–not to sow doubt, to obscure truth, if you’ll,” James informed the ‘New York Instances’ in October.

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