Mega venture fund for start-ups

Former CEO of California headquartered UST Global, Sajan Pillai, will kick-start a mega venture fund for startups in September with an intial corpus of $ 50 to 75 million. Pillai would also be investing in global projects for assisted living for seniors and homecare.

Kerala-born and US-based Pillai, whose long stint with UST Global positioned the American multinational company as a leading provider of IT services and solutions,said the venture fund, with an initial corpus of $50 to 75 million, would be launched on September 8 to promote start-ups, with a slant on Kerala. “We focus on four sectors primarily healthcare, fintech, telecom & technology, and retail,” he said, unveiling his plans at a press meet here.

“An advisory board has been set up to help startups in these sectors. We have already spoken to the largest banks in the world”, he said. Kerala has the potential to emerge as a global startup powerhouse, he said.

Pillai had been featured in this year’s list of Employees’ Choice Award for top 100 global CEOs, by Glassdoor.