Businessman Mukesh Ambani to Start New Venture Capital Firm in India
Approximately $250 Million US will be provided by Mr. Ambani to invest in innovative ideas in the areas of biotech, healthcare, and energy
Mr. Mukesh Ambani is a billionaire who runs India’s Reliance Industries, and all the $250M to be invested initially will come directly from Mr. Ambani. The new private equity firm will invest in start-up companies in various technology sectors, including biotechnology, IT, healthcare, and energy (renewable and traditional sources). Mr. Ambani will grow the venture firm by attracting investment from other investors, including outside of India. Mr. Ambani and Reliance Industries (RIL) both have a strong interest in technology innovation and investment; Reliance has a Technology Group (RTG), and has also established the Reliance Innovation Council which includes members from the areas of business and science development.
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