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Azim Premji’s family office crosses $10 bn in managed assets

The Arc Web

The Arc Web · 1y ago

Azim Premji’s family office crosses $10 bn in managed assets

Premji Invest, the family office of Wipro founder chairman Azim Premji, has rapidly grown its assets under management to over $10 billion, with a potential value exceeding $14 billion. With investments in both public and private companies in India and the US, the firm's overseas assets under management are estimated at around $4 billion. The philanthropic entity Azim Premji Foundation serves as the sole limited partner of Premji Invest, contributing approximately $2-3 billion to its investments. Premji Invest, accounting for roughly one-third of Wipro's market cap, supports the foundation through its profits and proceeds.

Related News

Azim Premji's wealth fund gets nod to set up shop in GIFT City

VCCircle

VCCircle · 1y ago

Azim Premji's wealth fund gets nod to set up shop in GIFT City

Billionaire Azim Premji's wealth fund has received approval to establish a family investment fund in India's Gujarat International Finance Tec-City (GIFT City). This move allows the fund to invest overseas without regulatory approval. GIFT City, a financial hub in Prime Minister Narendra Modi's home state, has been implementing initiatives to attract foreign brokers and companies. Premji's family office declined to comment. The fund has $10 billion in assets, with the proposed GIFT entity planning an initial investment of $200 million. Approximately 80 funds with $24 billion in commitments have been set up in GIFT City.

PremjiInvest, L Catterton eye investment in personal care brand

VCCircle

VCCircle · 1y ago

Billionaire Azim Premji's family office PremjiInvest and consumer investor L Catterton are considering an investment in a direct-to-consumer beauty and personal care brand. The skincare brand Minimalist is expected to secure funding from the two investors.

Azim Premji's office bets on AI ventures for $10 bn Premji Invest fund: Report

Livemint

Livemint · 1y ago

Azim Premji's office bets on AI ventures for $10 bn Premji Invest fund: Report

Premji Invest, the family office of Azim Premji, plans to increase its investments in artificial intelligence (AI) companies. The focus will be on refining its proprietary AI investment tools and developing an AI quant model for public market bets. Premji Invest has been using AI tools in private equity and is among the first large Indian asset managers to do so. The firm aims to gain a bird's eye view of emerging technologies and trends through its AI investments. Premji Invest has backed AI sector firms such as Cohesity Inc., Holistic AI, Ikigai, and Pixis.

PremjiInvest backs manufacturing firm in second deal of the month

VCCircle

VCCircle · 5m ago

PremjiInvest backs manufacturing firm in second deal of the month

PremjiInvest, the family office of Wipro founder Azim Premji, has made its second investment this month by backing a manufacturing company. Known as one of India's most active private equity-style investors, PremjiInvest has partnered with the family office of Manipal Group chairman Ranjan Pai for this deal. This move continues PremjiInvest's strategy of investing in diverse sectors, leveraging strategic collaborations to strengthen its investment portfolio and expand its influence in the manufacturing sector.

PremjiInvest eyes controlling stake in packaging firm

VCCircle

VCCircle · 8m ago

PremjiInvest eyes controlling stake in packaging firm

PremjiInvest, the family office of Wipro founder chairman Azim Premji, is reportedly seeking a controlling stake in a packaging firm. This move comes as alternative investment firms show renewed interest in the sector. PremjiInvest recently announced an investment in a technology startup and is now expanding its focus to the packaging industry.

PremjiInvest backs business group to acquire home financier

VCCircle

VCCircle · 1y ago

PremjiInvest backs business group to acquire home financier

Wipro Ltd's founder chairman Azim Premji's family office, PremjiInvest, has announced its support for an Indian business conglomerate's acquisition of a home loan financier. Known for investing in both early and late-stage unlisted companies, as well as publicly listed companies across various sectors, PremjiInvest is backing the Mumbai-listed firm in its strategic move.

MegaDelta Capital, PE fund exit legacy bet as family office strikes control deal

VCCircle

VCCircle · 6m ago

MegaDelta Capital, PE fund exit legacy bet as family office strikes control deal

MegaDelta Capital and a private equity fund managed by KOIS are selling their stake in an Indian company to a family office, marking a complete exit from a legacy investment. MegaDelta, based in Mumbai and founded by Bala Deshpande, and KOIS-managed Tara Fund IV are the main players involved in this transaction. The move signifies a strategic shift for both investment entities towards new opportunities and aligns with the buying interests of the family office.

PremjiInvest sets course for nearly $200 mn exit with a multi-bagger

VCCircle

VCCircle · 1y ago

PremjiInvest sets course for nearly $200 mn exit with a multi-bagger

PremjiInvest, the family office of Wipro’s Azim Premji, is preparing to exit a multi-bagger investment and reportedly garnering nearly $200 million in returns. The investment firm, known for its involvement in venture capital and growth stage opportunities, backed the successful new-age company almost a decade ago. This move highlights PremjiInvest's ability to identify and capitalize on promising investment opportunities.

Sauce.vc tops up bet on ice cream firm Hocco Foods

VCCircle

VCCircle · 2m ago

Sauce.vc tops up bet on ice cream firm Hocco Foods

Hocco Foods Pvt Ltd, managed by the Chona family in Ahmedabad, has secured $10 million in Series B funding, aiming for a total of $20 million. Existing investor Sauce.vc and the Chona Family Office led the round. After selling their Havmor brand in 2017, the Chonas re-entered the ice cream sector with Hocco in 2023. The funds will enhance production capacity, distribution, and product innovation, targeting Rs 450 crore in revenue for the current year.

PremjiInvest scripting nearly $250 mn exit with bumper returns

VCCircle

VCCircle · 1y ago

PremjiInvest scripting nearly $250 mn exit with bumper returns

PremjiInvest, the family office of Azim Premji, founder chairman of Wipro, has made a successful partial exit that yielded 10x returns earlier this year. The investment firm has now sold a five-year old private equity-style portfolio bet, aiming for another lucrative return. The amount for the latest exit is estimated to be around $250 million.

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