(MENAFN- The Peninsula) The Peninsula
Doha: Lupa Systems Founder and CEO James Murdoch and Uday Shankar, the former Chairman and CEO of Star India and the former President of Walt Disney Asia Pacific, announced today they are forming a new venture, 'Bodhi Tree,' an investment platform that will be financially supported by the Qatar Investment Authority (QIA). This new venture is designed to invest in media and consumer technology opportunities in Southeast Asia, with a particular focus on India.
Bodhi Tree will leverage technology to provide disruptive solutions that drive transformational outcomes in sectors with deep consumer engagement – including media, education and healthcare – to positively impact millions of consumers across the region. Bodhi Tree will be investing at scale to achieve these outcomes.
QIA CEO Mansoor bin Ebrahim Al-Mahmoud said: 'QIA is proud to play a key role in bringing Bodhi Tree to reality. QIA is investing in the technology and media space and India is a key market for us. QIA looks forward to backing Bodhi Tree as they drive forward their growth plans in the future.'
The newly formed venture will be run by Murdoch and Shankar as co-chairs, combining decades of experience influencing the region's media landscape and emerging consumers. QIA will be committing up to $1.5 billion in Bodhi Tree's vision being pursued by Murdoch and Shankar.
'We are very pleased to announce Bodhi Tree,' Messrs Murdoch and Shankar said. '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.'
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