Our fund will help firms move up the ESG scale: Mukund Rajan & Ajit Dayal

Mukund Rajan has joined hands with Quantum Advisors' Ajit Dayal to launch a $1-billion ESG fund

Last week, three former Tata executives led by Mukund Rajan joined hands with Quantum Advisors’ Ajit Dayal to launch a $1-billion ESG (environment, social and governance) fund. Adopting a private equity kind of approach to public markets, they will look to invest $50 million each in 20-odd companies which seek to become better on their ESG practices and require help to do so, the duo tell Ranju Sarkar in an email interview.

Why an ESG fund? What kind of cos will you invest & on what basis (criteria) will you pick them?

Ajit: Many owners of capital, especially in developed markets,