Get All Access for $5/mo

Godrej Promoters To Set Up Family Office: Report The move comes after Godrej's consumer products arm was investing INR 100 crore to anchor the early stage fund early spring

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Twitter

The promoters of Godrej Industries are setting up a family office to invest in new-age businesses, pursue riskier bets in unrelated segments and incubate new ideas, according to a Mint report. The move comes after Godrej's consumer products arm was investing INR 100 crore to anchor the early stage fund early spring.

Nadir Godrej, 72, the younger brother of group chairman Adi, was quoted in the news report as saying, "We have made a few investments already. Often, we want to make early-stage investments, which might be strategic, but it is too early to get (in through Godrej Industries), so, it's better to do it in the family office. Later, if the opportunity is good, we can get it into the business."

The statement reportedly added that, "We are in the process of setting up a family office. Because we have a very diversified business, we usually invest through the businesses. The businesses themselves have occasionally invested in PE-VC funds, sustainability funds and things like that. So, there was no great need for a family office till now."

The family is also working on a charter that will loosely mandate how wealth needs to be utilized and offer broad directives regarding businesses, it added.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

Dee Piping Goes Public: Announces Initial Public Offering

Dee Development Engineers Limited, commonly known as 'Dee Piping,' has announced its transition into a public limited company.

Business Solutions

Increase Productivity with This Microsoft 365 Subscription, Now $25 Off

It can make the entrepreneur life a lot easier.

News and Trends

Unifi Capital Launches Two New Funds at GIFT City

Rangoli India Fund and G20 Portfolio are the two new funds launched by Unifi Capital, via its subsidiary UIML in GIFT City, to expand international investment opportunities.

Business News

Apple Pay Later Is Ending. Here's What's Taking Its Place.

The program was available for less than a year.

Culture

I've Grown a High-Performing Team in Just 2 Years — Here's are 5 Growth Strategies I Learned

A team's strength lies in its people's individual skills and how they synergistically come together.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.