PremjiInvest, the prominent Indian family office managing over $10 billion for business magnate Azim Premji, is doubling down on its commitment to artificial intelligence (AI) ventures. According to TK Kurien, the firm’s managing partner and chief investment officer, PremjiInvest will channel more funds into AI startups while enhancing its proprietary AI investment tools.
As one of the pioneering Indian asset managers integrating AI tools into private equity operations, PremjiInvest is expanding its AI toolkit to include a quant model for public market investments. Kurien, in his first interview since assuming the role in 2017, emphasised the firm’s exponential returns in AI investments and its plans for further expansion in the AI sphere.
Joining global investment giants like BlackRock Inc and SoftBank Group Corp, PremjiInvest initiated AI tool development three years ago and hired 14 AI engineers. Simultaneously, it began supporting startups exploring AI technologies.
AI empowers PremjiInvest to analyze over 10,000 global companies based on 600 parameters, providing insights into emerging technologies and trends. This approach enables the firm to identify investment opportunities and maintain a competitive edge.
Among the firms backed by PremjiInvest are Cohesity Inc, a data-management software company, and Holistic AI, an enterprise software business based in London.
Kurien intends to democratize access to some AI tools for open-source developers while leveraging AI platforms to expedite legal proceedings in India’s courts and enhance government services.
In terms of investment strategy, PremjiInvest focuses on technology and financial services, with additional investments in consumer and healthcare sectors in India and healthcare and technology sectors in the US.
Established by Azim Premji in 2006, PremjiInvest serves as a perpetual investment vehicle supporting philanthropic endeavors. Kurien, leveraging his extensive experience from over 16 years at Wipro Ltd, seeks to identify cutting-edge technologies in the US for deployment in Bharat.
PremjiInvest, operating from Menlo Park, California, and Bengaluru, Bharat, allocates assets across private investments, publicly traded equities, and other funds. With assets under management quadrupling over the past eight years, the firm maintains a patient capital approach without fixed exit timelines.
“We are patient capital without an exit time frame,” Kurien remarked, underscoring the firm’s commitment to sustainable investment growth.
