What do fund managers do after they retire? Answer: They invest.
Mark Mobius, only a month after ending his adventure with Franklin Templeton (BEN) Investments (BEN), is plotting a launch of yet another emerging markets fund. This time he is putting his own money into an Indian venture capital fund, Equanimity Investments.
"I am excited about the investment opportunity in the Indian early stage ecosystem," Mr. Mobius said in an Equanimity news release. "Equanimity is the ideal partner."
The fund, which has an environmental, social and governance focus invests in startups, emerging or early stage venture capital projects mainly involved in new services, technologies or intellectual property rights-based companies that are pursuing innovative business models.
Mr. Mobius will evaluate investment proposals, direct investment strategy and exit decisions, and review the overall portfolio on a regular basis. He is joining Equanimity's investment committee, too.
Mr. Mobius spent 30 years at Franklin Templeton Investments as a portfolio manager and executive chairman of the Templeton Emerging Markets Group.