YES Bank founder and chairman Rana Kapoor’s family office Three Sisters plans to invest $150 million in startups, while the Hinduja family picks up stake in UACTIV.
Rana Kapoor’s family offices plans to invest $150m in startups
The family office of YES Bank founder and chairman Rana Kapoor, which is run by his three daughters, plans to invest $150 million to incubate and fund new businesses, according to a report in The Economic Times.
The family office, The Three Sisters, is keen to invest in sectors including education, tourism, family entertainment centres, and agri-logistics.
“We are not really passive investors,” said Radha Kapoor Khanna, promoter of The Three Sisters. “Our model has been to partner with good management teams at a concept stage and build businesses for the long term,” she said.
Hinduja Family backs sports & fitness startup UACTIV
According to the report, Hindujas acquired the stake in December when it acted as the lead investor in UACTIV’s first seed round funding.
“While they do not intervene in management-related matters, they do provide the startup with their mentorship,” UACTIV cofounder Atish Chhabria told the news paper.
UVACTIV plans to spend a majority of the funding in strengthening its technology while the remaining would be spent on marketing and operational expenses.