Terra Invest, a new investment firm backed by former US ambassador to Singapore Kirk Wagar, is poised to allocate a significant portion of its $2.5 billion fund towards Indian artificial intelligence (AI) startups by 2025.
With already $230 million disbursed, the firm operates on a deal-based model and emphasizes India’s pivotal role as a testing ground for investment strategies and policy frameworks.
In an interview with Moneycontrol, Wagar highlighted India’s strategic importance, stating, “There is a clear opportunity for success in India… It serves as a proving ground for both investment strategies and policy frameworks, paving the way for potential expansions to Riyadh or Malaysia.”
Investments in AI have gained traction due to their potential to transform industries and enhance daily lives. Beyond financial commitments, Wagar stressed Terra Invest’s commitment to leveraging India as a laboratory and policy partner for emerging technologies.
Headquartered in London and the UAE, Terra Invest specializes in navigating complex policy and regulatory landscapes. The fund targets AI startups innovating in financial services, healthcare distribution, and clean energy. Unlike traditional firms, Terra Invest adopts a flexible, patient investment approach, akin to successful sovereign wealth and pension funds.
During his tenure as US ambassador to Singapore, Wagar facilitated foreign direct investment by American companies based in the city-state. He praised India’s evolving regulatory framework and expanding market opportunities, noting improved ease of exit for investors.
Terra Invest, supported by prominent Asian family offices and funds such as Mount Row Partners, is helmed by seasoned financial and public policy experts. Alongside Wagar, founding partners include Ankiti Bose, former CEO of Zilingo, bolstering Terra Invest’s leadership in the Asian e-commerce sector.
The firm’s proactive approach underscores growing international interest in India’s AI sector, highlighting its potential to drive economic growth and technological innovation on a global scale.