Cyrus Mistry, former Chairman of Tata Sons is making a comeback into the corporate world and has launched a private equity firm named Mistry Ventures LLC that will invest in and nurture start-ups in India and across the world.
Interestingly, the announcement of this venture capital firm coincides with the second year of Mistry’s ouster from Tata Sons, following a boardroom coup on 24th October 2016.
The VC firm is established with an aim to provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to the startups.
The lead the firm, it has roped in Ashish Iyer as Senior Partner, who was previously Global Leader, Strategy Practice at the Boston Consulting Group. Commenting on this, Cyrus 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.
Cyrus Mistry adds that the firm will be interpreting some of the major global and local trends and understanding their impact on industries and companies to incubate new businesses, forge partnerships and make investments across sectors.
Mistry Ventures will also focus on providing mentorship and infusing unique capability sets to help start-ups craft the appropriate business experiments needed to validate, scale and bring products and services faster to market.
The VC firm is jointly promoted by Cyrus Mistry and his elder brother Shapoor Mistry, both of whom are promoters of Shapoorji Pallonji Group (SP Group), a conglomerate operating in the engineering and construction, infrastructure, real estate among others.