Catamaran, the family office of Infosys founder Narayana Murthy, is targeting 15 per cent returns on its portfolio investments per annum as it shifts focus from early-stage investments to growth and late-stage bets. This would double the firm's assets under management (AUM) from the current $1 billion to $2 billion over the next five years. "For direct investments, we are focusing on growth-stage investments and very selectively on early stage," Deepak Padaki, president, Catamaran, told Business Standard. "(This is) primarily because the early-stage space in India, in the last three-four years, has completely changed. "There has been a huge influx of capital in the last two years. It has become a very crowded space for early-stage investment," he said.
Catamaran Management Services, the venture capital fund promoted by Infosys Technologies Chairman N R Narayana Murthy, is free to exit SKS Microfinance.
Murthy's fund, which has invested through Catamaran Management Services, will hold 1.3 per cent in the company after the IPO.
E-commerce major Amazon on Wednesday said it will acquire Prione Business Services - its joint venture firm with Catamaran, subject to requisite regulatory approvals. Prione Business Services was formed in 2014 and was coming up for renewal on May 19, 2022. In August this year, Amazon and NR Narayana Murthy's Catamaran announced that they will not continue their JV beyond May 2022. The two parties had not disclosed the reason behind the decision.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
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In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
The company has pointed at the possibility of fines and financial penalties.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
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He started a fund with Rs 800 crore and made several investments.
His presence matters more than the money he brings.
