James Murdoch And Former Star India Chief Uday Shankar Form New Investment Venture Backed By Up To $1.5B From Qatar

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.

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 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.”