As a member of the investment committee and a key investor in the fund, Mobius will be actively helping to evaluate investment proposals, directing investment and exit decisions.
Mark Mobius, former Executive Chairman at Templeton Emerging Markets Group, has joined the investment committee of Equanimity Investments.
Equanimity Investments is a venture capital fund that helps clients diversify their portfolios by investing in early stage businesses.
As a member of the investment committee and a key investor in the fund, Mobius will be actively helping to evaluate investment proposals, directing investment and exit decisions. He will also help in reviewing the overall portfolio on an ongoing basis.
Equanimity is the only fund in India that has been associated with Mobius since his retirement from Franklin Templeton Investments.
Mobius has the experience of investing in early stage of businesses in India like Edupristine and Express Bike Works. He finds the startup ecosystem in India very buoyant and profitable for investors across the globe.
Commenting on the association, Rajesh Shegal, Managing Partner of Equanimity Investments, said: “The level of experience that Mark Mobius brings in to sharpen our investment process and build a portfolio of early stage companies that can be truly global in their business. Having Mark Mobius as the anchor investor as well as Investment Committee member takes Equanimity further along its planned path of being the pre-eminent AIF platform in India.”
As per the SEBI guidelines, Equanimity Investments is Category-1 AIF.
Sehgal also said that Equanimity is a sector agnostic fund that invests in early stage companies, which use technology as their backbone, ensuring scalability and sustainability of their business models.
The fund spans seven years and extendable by 2 years.
Sehgal has been an active secondary market investor for the last 24 years, 17 years of which he worked with the emerging markets group of Franklin Templeton.
He was also managing Templeton’s private equity investments over these 17 years.
Mobius to also start his own fund
Apart from joining Equanimity, Mobius is planning to start a fund management firm that will predominantly invest in emerging and frontier market companies focused on environmental, social and governance (ESG) ideas.
The fund will be an open-ended, long-only one. The fund management firm will be based in Luxembourg and London.
Mobius, 81, is widely recognised as investment guru after having served for 30 years at Franklin Templeton and retiring as the executive chairman of its emerging markets group.
Speaking about the Indian equity market, Mobius said valuations are high so the market will correct, but that he is upbeat on the Indian market in the long term.
After the recent scam in state-owned Punjab National Bank, the investment guru said that it is likely to lead to stricter processes for banks, thereby making them stronger. It is because of this that he is upbeat on Indian banks.
Mobius said he also likes the consumer space but is underweight on the telecom space.Hail and hearty at his well-travelled 81 years, Mobius said with a smile on his face that has "no retirement plans.” He likes watching Bollywood movies and appreciated Padmaavat, which he watched recently.