The family office would start with a few hundred crores and raise funds “when opportunities arise,” said Nadir Godrej, 72, the younger brother of group chairman Adi.

“We have made a few investments already. Often, we want to make early-stage investments, which might be strategic, but it is too early to get (in through Godrej Industries), so, it’s better to do it in the family office. Later, if the opportunity is good, we can get it into the business,” said Nadir, managing director of Godrej Industries, the group holding company for Godrej Consumer, Godrej Properties, and Godrej Agrovet.

The family office, Nadir said, will be run professionally and will be overseen by Adi’s son, Pirojsha. He declined to comment.

“[W]e are in the process of setting up a family office. Because we have a very diversified business, we usually invest through the businesses. The businesses themselves have occasionally invested in PE-VC funds, sustainability funds and things like that. So, there was no great need for a family office till now,” Nadir added.

In his personal capacity, Nadir invested in some companies. “Sometimes, I’ve invested in the underlying companies in the fund alongside the fund,” he added. His direct investments include Hector Beverages, which owns the Paperboat brand of traditional beverages and foods.

The family is also working on a charter that will loosely mandate how wealth needs to be utilized and offer broad directives regarding businesses.

https://www.livemint.com/companies/news/godrej-industries-promoters-launch-mumbai-family-office-for-new-age-business-investments-and-incubation-of-new-ideas-11684086418606.html