N R Narayana Murthy, chairman and chief mentor of India's second-largest IT services firm Infosys Technologies, has christened his to-be-launched venture capital fund the 'Catamaran Venture Fund'.
Murthy joins the league of top corporate honchos who have launched private equity funds to assist budding entrepreneurs and upcoming ventures across various sectors in India.
Murthy's fund, which has invested through Catamaran Management Services, will hold 1.3 per cent in the company after the IPO.
Narayana Murthy, chairman and chief mentor of India's second-largest information technology services provider Infosys Technologies, has asserted that he has set up the Catamaran Venture Fund to occupy himself once he retires from Infosys in 2011.
Infosys' Chief Mentor NR Naryana Murthy has hired Arjun RamegowdaNarayanaswamy to manage his Rs 600-crore (Rs 6 billion) venture capital (VC) fund -- Catamaran.
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.
Sri Lanka stays with you not just in memory, but gently reminds you what a society can achieve when heart and heritage guide the way.
The Rs 600-crore (Rs 6-billion) fund wants to become a global-style limited-partnership investor. It was a venture capital fund formed after much thought and attention to detail, like almost all the moves.
Catamaran Management Services, the venture capital fund promoted by Infosys Technologies Chairman N R Narayana Murthy, is free to exit SKS Microfinance.
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.
.jpg)
He started a fund with Rs 800 crore and made several investments.
Indian Sellers Collective (ISC), a trade association of micro and small enterprises and family businesses, on Wednesday urged IT veteran NR Narayana Murthy to cooperate in the Competition Commission of India's antitrust probe against Amazon for alleged anti-competitive practices. In 2014, Murthy's Catamaran and Amazon had formed a joint venture, Prione Business Services. On Monday, the partners announced that they have mutually decided not to continue the JV beyond May 2022. ISC thanked Murthy for deciding to end the joint venture with Amazon.
The family office category was up 38 per cent, led by names such as Ratan Tata, Ronnie Screwvala and various Infosys co-founders.
While a three-year tax holiday and relaxation of capital gains for funds have been received favourably, others argue that not enough has been announced.
The company has pointed at the possibility of fines and financial penalties.
Some unlikely celebrities are behind multiple campaigns to fight the fake news menace.
Start-ups that did not have a business model and, hence, could not grow or attract new funding, are shutting shop.
Giants like Pepsi and Coke are fast losing shelf-space to healthier, functional options.
