James Murdoch, Star India ex-CEO form new venture backed by Qatar

 Lupa Systems founder and CEO James Murdoch and former Star India CEO Uday Shankar announced on Wednesday a new venture called Bodhi Tree that will get up to $1.5 billion from the Qatar Investment Authority, which manages the sovereign wealth fund.

Bodhi Tree will seek investments in media and consumer technology in Southeast Asia, with a focus on India. The Qatar Investment Fund has pledged the financial commitment to the venture.

James, the son of media mogul Rupert Murdoch, left the family-run media business, 21st century Fox, after the 2019 sale of most of its entertainment business to the Walt Disney Co.

He subsequently partnered with Shankar on Lupa Systems to begin scouting for investments in emerging markets. Last year, they backed an Indian startup, Doudtnut, which uses short videos to teach students math and science concepts.

The new venture, Bodhi Tree, is aiming to invest in media, education and healthcare companies with the potential to improve the lives millions of consumers across the region.

James Murdoch and Shankar have deep experience in the region, helping to build Star India into one of the country’s biggest media and entertainment companies. Under Shankar’s leadership, Star launched the streaming service Hotstar, which is now part of Disney.