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James Murdoch seeks $150 million each from 'ultra rich' families to invest in India: Report

Lupa Systems was set up by Murdoch in 2019 with offices in Mumbai and New York.

June 21, 2021 / 09:44 AM IST
James Murdoch is the son of media mogul Rupert Murdoch and had resigned from News Corp board last year due to

James Murdoch is the son of media mogul Rupert Murdoch and had resigned from News Corp board last year due to "certain editorial content published by the Company’s news outlets and certain other strategic decisions,” he had said at the time.


Billionaire James Murdoch, the former chief executive of 21st Century Fox Inc, is looking to raise funds from ultra-rich families around the globe for his company Lupa Systems to invest in India, Bloomberg said in a report.

According to a person aware of the matter, the company is seeking about $150 million each from "fewer than half a dozen" family offices for investment in India, it said adding that an external fundraiser will be used for the purpose.

Moneycontrol could not independently verify the report.

Lupa Systems was set up by Murdoch in 2019 with offices in Mumbai and New York. The company has reportedly made investments in Indian startups Doubtnut and Harappa Education.

The Indian operations of Lupa Systems are led by Nitin Kukreja, a former Morgan Stanley banker. The company has reportedly acquired $160 million stake MCH Group, the organizer of the Art Basel shows and has investments in companies including a Norwegian drone technology company UBIQ Aerospace and an American comic book publishing startup Artists Writers and Artisans.

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Murdoch along with Uday Shankar, former president of The Walt Disney Company Asia Pacific and chairman, Star and Disney India will raise$345 million through a special purpose acquisition company (SPAC) for his new media and tech venture, Seven Island Inc. The company will focus on media, entertainment, consumer technology, healthcare, and education industries in Southeast and South Asia, with a particular focus on India.

James Murdoch is the son of media mogul Rupert Murdoch and had resigned from News Corp board last year due to "certain editorial content published by the Company’s news outlets and certain other strategic decisions,” he said at the time.
Moneycontrol News
first published: Jun 21, 2021 09:44 am

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