Cyrus Mistry, former chairman of Tata Group, on Wednesday announced the formation of Mistry Ventures LLP, which is aimed at providing strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and globally.
Mistry's venture will bring in Ashish Iyer, Senior Partner and previously Global Leader, Strategy Practice at the Boston Consulting Group to lead the firm.
"Ashish 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 and I am very excited to have him on board," Cyrus Mistry said in a statement.
Outlining his vision for Mistry Ventures, he stated, "The intent to deliver profit with positive social impact will be embedded in each of the ventures we promote or partner 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, we will incubate new businesses, forge partnerships and make investments across sectors.
Mistry further shared that Mistry Ventures will focus on providing "mentorship and infusing unique capability sets to help startups craft the appropriate business experiments needed to validate, scale and bring products and services faster to market."
Mistry Ventures LLP 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.
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