The Qatar Investment Authority (QIA), the country's sovereign wealth fund, will financially support Bodhi Tree, an investment platform launched by James Murdoch, the founder and CEO of Lupa Systems, and Uday Shankar, a former president of Walt Disney Asia Pacific.

Bodhi Tree will invest in media and consumer technology opportunities in Southeast Asia, with a particular focus on India.

According to a joint statement from the QIA and Lupa Systems, Bodhi Tree will leverage technology to provide disruptive solutions that drive transformational outcomes in sectors with deep consumer engagement, including media, education and healthcare.

The QIA investment comes at a time when Lupa India is in the final stages of picking up a 39 percent stake in Viacom 18, a joint venture in which TV-18, controlled by Reliance Industries Limited (RIL), has a 51 percent stake. Viacom 18, which runs digital entertainment and television channels, has plans to enter the sports business.

"The newly formed venture will be run by Murdoch and Shankar as co-chairs, combining decades of experience influencing the region's media landscape and emerging consumers. QIA will be committing up to $US1.5 billion in Bodhi Tree's vision being pursued by Murdoch and Shankar," the statement said.

"We are very pleased to announce Bodhi Tree," Messrs Murdoch and Shankar said. "Opportunities abound to scale exciting businesses in India and the broader Southeast Asia region. Our continued focus on investing and building relationships in these regions comes from our deep conviction in the long-term growth of these economies and the incredible power of these consumers, as these sectors are transformed by technology."

QIA CEO Mansoor bin Ebrahim Al-Mahmoud said: "QIA is proud to play a key role in bringing Bodhi Tree to reality. QIA is investing in the technology and media space and India is a key market for us. QIA looks forward to backing Bodhi Tree as they drive forward their growth plans in the future."

(Reporting by Seban Scaria; editing by Daniel Luiz)

(seban.scaria@lseg.com)

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