James Murdoch And Former Star India Chief Uday Shankar Form New Investment Venture Bodhi Tree, With Up To $1.5B In Backing From Qatar
09.02.2022 - 21:10
/ deadline.com
James Murdoch and Uday Shankar, formerly CEO of Star India and president of Walt Disney Asia Pacific, have formed Bodhi Tree, a new outfit backed by the Qatar Investment Authority.
The venture will invest in media and consumer technology opportunities in Southeast Asia, with a particular focus on India. The QIA has committed up to $1.5 billion.
Murdoch has been running investment firm Lupa Systems since exiting 21st Century Fox as CEO after Disney acquired most of its assets in 2019.
In an announcement, Bodhi Tree said it will “leverage technology to provide disruptive solutions that drive transformational outcomes in sectors with deep consumer engagement.” Areas might include media, education and healthcare, with the aim to “positively impact” millions of consumers across the region.
Qatar’s backing will enable investments at significant scale, though specific figures have not been cited as yet. The Persian Gulf nation’s sovereign wealth fund has recently pledged to invest tens of billions of dollars in the U.S. alone, on various projects including ports. Qatar is among the world’s wealthiest countries, based on GDP or per-capita income.
Murdoch and Shankar will be co-chairs of Bodhi Tree.
“We are very pleased to announce Bodhi Tree,” they said in a joint statement. “Opportunities abound to scale exciting businesses in India and the broader Southeast Asia region. Our continued focus on investing and building relationships in these regions comes from our deep conviction in the long-term growth of these economies and the incredible power of these consumers, as these sectors are transformed by technology.”
The QIA “is proud to play a key role in bringing Bodhi Tree to reality,” its CEO, Mansoor bin Ebrahim Al-Mahmoud, said. “QIA