Mumbai: Business magnate Cyrus P. Mistry on Wednesday announced the launch of a new global enterprise, Mistry Ventures LLP, to provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and worldwide. It will bring in Ashish Iyer, Senior Partner and formerly Global Leader, Strategy Practice at the Boston Consulting Group, to head the new firm, a statement said. The development comes exactly two years after Mistry, 52 was ousted as the Chairman of Tata Sons on October 24, 2016, in one of the most closely followed corporate wars in recent times. The Irish-born Mistry had been appointed in 2012.
Outlining his vision for the new venture, Mistry said: “The intent to deliver profit with positive social impact will be embedded in each of the ventures we promote or partner with.” On Iyer, he said: “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.” He said 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, it would incubate new businesses, forge partnerships and make investments across sectors. (IANS)