James Murdoch is contemplating elevating funds from ultra-rich households across the globe, a transfer that may give him extra firepower to make acquisitions and additional set up his funding agency.
Murdoch’s Lupa Techniques is on the lookout for about $150 million every from fewer than half-a-dozen household places of work for investments in India, in line with an individual with data of the matter. It intends to make use of an exterior fundraiser to assist with the drive, mentioned 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 Techniques in 2019. Based mostly in New York and Mumbai, it already counts Indian startups Doubtnut and Harappa Training 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 Techniques’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 ebook 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 kids in line to obtain about $2 billion every from the deal.
James reduce ties together with his household’s media companies — Information Corp. and Fox Corp. — final 12 months after clashing over its editorial course. His brother Lachlan, 49, now helps to run each corporations.
Rupert Murdoch, 90, has a web value of $8.9 billion, in line with the Bloomberg Billionaires Index. “At nice information organizations, the mission actually needs to be to introduce reality to disperse doubt — to not sow doubt, to obscure reality, if you’ll,” James advised the New York Occasions in October.
This story has been printed from a wire company feed with out modifications to the textual content.
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