TATA Sons patriarch Mr. Ratan Tata has decided that he will be back and reinserting himself into startup investments this month. After handling over the helm of TATA Groups to his son N. ChandraShekaran, Mr. Tata will get back to investing in startups from February 26.
N.ChandraShekaran who is present CEO of the company will take over the Chairman position on 21st Febuarary and Mr. Rajesh Gopinathan will be the new CEO of Tata Consultant Services (TCS).
After his retirement in 2012 as the head of TATA group, Ratan Tata emerged as one of the most active angel investors in the startup ecosystem. He has backed more than more than 40 startups which include Snapdeal, Urban Ladder, Paytm, Firstcry and many more.
Mr. Tata said: “The last five months have put me forcibly in the older mould. I will be back for the startup community with greater vigour.”
He also quoted “I think the unfair competition by some corporations needs to be controlled. The internet has opened a highway for commerce which is being used by this start-up community and is also being used by traditional companies when it suits them.”
Currently, Mr.Tata is an advisor to VC firms Kalaari, IDG Ventures India and Jungle Ventures and is setting up a venture fund in partnership with the University of California.
Mr. Ratan Tata also briefly highlighted the new challenges for the broader corporate and technology outsourcing market. Commenting on US President, Donald Trump he said “The challenges in the last few months have been changing. Mr Trump has given new challenges. I am sure we can reinvent ourselves to meet those challenges.”
While E-commerce startups like Snapdeal, Flipkart and Cab Aggregator Ola are having a hard time for looking to raise the funds at a higher value than their previous rounds, Mr. Tata could be the one handed single solutions for all their problems. It will be interesting to see how a 75-year-old business tycoon will re-take on the startup industry. Read more news.