Set up in the mid-90s, the Burman Family Office has made a mix of both public and private equity investments, much of it focused on the financial services space.
The investment arm has picked up stakes in Karnataka Bank and RBL has entered into a number of joint ventures, such as its partnership with insurance giant Aviva to set up one of the country’s largest life insurance companies.
“Given that this is generational business, in the mid-90s we decided to take a generous portion of our dividend income and invest in new businesses, and we decided to do that as a group rather than individually, because as a group we have more capital to invest, drive better deals, find better opportunities, leverage each other’s networks,“ Burman said.
Burman said all the investments are made by family members utilising their personal wealth, and not out of Dabur’s balance sheet. The Burman Family continues to hold about a 70% stake in Dabur, which has a market capitalisation of about `. 46,800 crore.
The Burman Family Office, which has invested about ` . 2,000 crore till date, is looking for opportunities in the digital space as well.
“We would like to do more in the online space. The mandate I have is to invest capital that can be harvested by the next generation,“ Burman said.
Apart from the Burmans, other prominent family offices actively investing in the country are PremjiInvest, the personal investment arm of Wipro Chairman Azim Premji; Infosys co-founder NR Na rayana Murthy’s Catamaran Ventures; and former Disney-UTV head Ronnie Screwvala’s Unilazer Ventures.
“Family offices are breaking out from their current wealth segment and are undertaking angel, seed and PE investing,“ said Soumya Rajan, co-founder and chief executive of Waterfied Advisors, a boutique firm that advises India’s family offices on succession planning and creating trusts.