On 2nd anniversary of fracas with Tatas, Cyrus Mistry floats a VC firm

Cyrus P Mistry, the Shapoorji Pallonji scion, who was unceremoniously removed from the top job at Tata Sons on 24 October exactly two years ago, signalled a new beginning on Wednesday with the formation of Mistry Ventures LLP, a venture capital firm that would provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to start-ups in India and globally, said the newly formed company in a statement.

Ashish Iyer, Senior Partner, and previously Global Leader, Strategy Practice at the Boston Consulting Group will head the firm. Iyer 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, Mistry said in a statement.

The firm he added, has been established with “the intent to deliver profit with positive social impact” that will be embedded in each of the ventures the company promotes or partners with.

“Mistry Ventures will do more than just invest in companies. By interpreting some of the major global and local trends and understanding their impact on industries and companies,” said Mistry said in the statement. It will incubate new businesses, forge partnerships and make investments across sectors. It will 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, he said.

Mistry Ventures is jointly promoted by Shapoor Mistry and Cyrus Mistry, the promoters of the Shapoorji Pallonji Group, a globally diversified conglomerate with a history of over 150 years, operating in the engineering and construction, infrastructure, real estate, water, energy and financial services sectors with a presence in over 60 countries globally.