Preeti
PremjiInvest, the largest Indian family office managing over $10 billion for Azim Premji, plans to invest more in artificial intelligence (AI) companies. They are fine-tuning their AI investment tools and developing a quant model for public market bets. The company has hired AI engineers and backed firms in the AI space, such as Cohesity Inc. and Holistic AI. They use AI to analyze data and identify investment opportunities globally. The firm’s investment strategy focuses on technology and financial services, with investments in consumer and healthcare sectors in India and healthcare and technology sectors in the US.
PremjiInvest, established by Wipro founder Azim Premji as a perpetual investment vehicle in 2006, supports his philanthropic endeavors. The firm returns 5% of its capital to Premji’s foundation annually. They have seen a fourfold increase in assets under management in the last eight years and operate with a patient capital approach without an exit time frame. The managing partner, TK Kurien, who previously worked at Wipro, is scouting for investment targets in the US with cutting-edge technologies that can benefit India. The firm’s 120-member team oversees investments in Menlo Park, California, and Bengaluru, India. They are also developing platforms to aid India’s courts and governments in offering services more effectively.
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Source link: https://finance.yahoo.com/news/tech-tycoon-family-office-bets-233000654.html
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