Element Capital founder donates $12 million to Columbia University

NEW DELHI: Sharik Currimbhoy, founder of private equity and real estate investment companyElement Capital, has donated $12.12 million(about Rs 66 crore now) to his alma mater Columbia University to support research and fellowships with a focus on India and emerging markets.

Currimbhoy is also the vice president and chief operating officer of the Shahnaz Husain Group of Companies, which is currently in talks with international private equity firms to raise up to Rs 200 crore to expand its business globally as well as to launch a coffee and book shops chain.

"The University has been rapidly developing its ability to extend our scholarship and learning across national borders and also traditional boundaries separating academic disciplines," said University President Lee C. Bollinger.

Currimbhoy was recently in news when Element Capital attracted capital worth Rs 780 crore from foreign investors to co-invest in pre-leased office assets across the country.