University of California teams up with Ratan Tata's investment firm to fund startups in India over the next ten years.
The office of the chief investment officer at University of California has joined with RNT Associates to fund Indian startups and enterprises over the next 10 years, according to LiveMint.
RNT Associates is the privately held investment firm of Ratan Tata, former chairman of industrial conglomerate Tata Group.
Neither of the partners disclosed the investment targets, details of the investment levels or committed capital.
In November 2015, Ratan Tata was appointed a senior advisor to the office of the chief investment officer at University of California. As part of this role, Ratan Tata was to advise the office on international policy, investment opportunities and strategies in India and across Asia.
The office also disclosed at the time that it planned to invest up to $1bn in public markets and private assets in India and Asia.
Ratan Tata said: “Though many details need to be worked out, the joint view is to encourage entrepreneurship. We have not pre-judged what we are going to do, or the size of investments but we are looking to invest in young entrepreneurs and believe that University of California could provide great assistance to them.”
