Ratan Tata awarded Patrick J. McGovern Lifetime Achievement Award 2019 by Chiratae Ventures
Ratan Tata, Chairman Emeritus of Tata Group, has been awarded the Chiratae Ventures’ Patrick J. McGovern Lifetime Achievement Award 2019 at the company’s annual general meeting on October 15.
Tata has been associated with the venture capital firm as a senior advisor for the last four years. Commenting on receiving the award, he said,
“It is a pleasure receiving this award from the Chiratae team. I have personally known Sudhir and the Chiratae Ventures team for a few years now. I have witnessed the company’s and team’s growth as IDG, now Chiratae. I’m proud of the impressive portfolio they have built over the years. I am happy to have been a part of their success story.”
Earlier known as the International Data Group (IDG) Ventures India, it was a part of IDG Group, founded by Chairman Patrick J. McGovern. The said award was instituted in 2016 and since, has been honouring global leaders, who have left a lasting legacy to their business. This includes Kris Gopalakrishnan, Co-founder of Infosys, and John Thomas Chambers, former Executive Chairman and CEO of Cisco Systems, among others.
Patrick McGovern III, Chairman of Judge’s Committee, said, “All the judges, which includes past recipients, and Sudhir Sethi and TC Meenakshi Sundaram, unanimously selected Ratan N Tata as the awardee.”
The selection criteria focussed on ‘Achiever of Eminence’, who has created a significant impact on India – business ecosystem, entrepreneurial ecosystem, policy ecosystem over a good span of time, he added.
Tata has served as the Chairman in several Tata Group companies, which includes Tata Motors, Tata Steel, Tata Consultancy Services, Tata Power, Tata Global Beverages, Tata Chemicals, Indian Hotels, and Tata Teleservices. He was also the Chairman of Tata Sons, the holding company of the Tata Group.
Under his leadership, the group’s revenues grew manifold, totalling over $100 billion in 2011-12. In 2008, the government of India also bestowed the second-highest civilian award, Padma Vibhushan, on Tata.
While honouring Tata, Sudhir Sethi, Founder, Chairman and Managing Director, Chiratae Ventures, said,
"We have been through a great journey together and we are honoured to have Ratan Tata accept the award from the Chiratae team. He has been a great motivation and mentor to the team. The time invested by him in advising us is of immense value.”
Founded in 2006 by industry veterans Sudhir Sethi and TC Meenakshi Sundaram, Chiratae Ventures is a leading VC firm in the country with an AUM of over $650 million. It has backed more than 75 companies, which include Flipkart, Myntra, FirstCry, Lenskart, Manthan, NestAway, PolicyBazaar, among others.
(Edited by Saheli Sen Gupta)