Billionaire James Murdoch is considering raising funds from ultra-rich families around the world to invest in India. Murdoch's Lupa Systems is looking to raise about $150 million each from around half-a-dozen family offices for investments in India.
This move would give Murdoch more firepower to make acquisitions and further bolster his investment firm. A person familiar with the development told Bloomberg that he intends to use this external fundraiser to help with the drive. The plans are still tentative.
Lupa Systems was established by Murdoch in 2019, and is based in New York and Mumbai. Doubtnut and Harappa Education are some of its investments. It is also baking a blank-check company that will focus on India.
The firm also owns a stake in MCH Group worth $160 million. It has investments in Norwegian drone technology company UBIQ Aerospace, US comic book publishers Artists Writers & Artisans, and the owner of the Tribeca Film Festival.
James Murdoch was the CEO of 21st Century Fox before most of its assets were acquired by Walt Disney Co.
Former Morgan Stanley banker Nitin Kukreja, is managing director of Lupa Systems's operations in India.
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