Shah Capital Management, Raleigh, N.C., donated $25,000 to Pratham USA, the Houston-based division of Pratham, Mumbai, a non-profit organization promoting literacy for children in India. The portfolio management company, which had about $185 million in assets under management as of April 30, joins larger corporate sponsors including Citigroup and Merrill Lynch.
Pratham, which is Sanskrit for first, is a grass-roots literacy movement devoted to helping underprivileged children with preschool and early education, a cause that appeals to Himanshu H. Shah, president and CIO of Shah Capital, who grew up in India. Mr. Shah also contributes to several other literacy-related charities.
The company donated $10,000 in 2006 but wanted to move from being a regional-level sponsor to a national-level sponsor, according to Mr. Shah. We wanted to make a larger gift this year, he said. I believe in supporting charitable organizations that promote literacy, and think this is a very important cause and organization to support.