Former Tata Sons Ltd chairman Cyrus Mistry is setting up Mistry Ventures LLP to incubate new ventures, provide seed, early-stage and growth capital to startups. Mistry Ventures is jointly promoted by Cyrus and his brother Shapoor Mistry, promoters of the Shapoorji Pallonji Group..

In a statement, without specifying the amount of funds that he plans to invest through this venture, Mistry stated, “Mistry Ventures will do more than just invest in companies. By interpreting some of the major global and local trends and understanding their impact on industries and companies, we will incubate new businesses, forge partnerships and make investments across sectors.”

The venture will focus on providing mentorship and help startups craft the appropriate business experiments needed to validate, scale and bring products and services faster to market, he added.

Mistry Ventures has named Ashish Iyer, senior partner and previously global leader, strategy practice at consulting firm Boston Consulting Group, to lead the firm.

“Ashish has worked with companies across sectors globally and brings deep expertise across domains and capabilities such as strategy, go-to-market, digital, innovation among others and I am very excited to have him on board,” Mistry added.

Mistry’s new venture comes exactly two years after he was ousted from Tata Sons following a boardroom coup.