Processing .....please wait.. 
The article has been forwarded.... 
News >> Enterprise >>
Murthy's VC fund to focus on healthcare, retail and technology
By siliconindia
|
2 Comments
Bangalore: Infosys Founder NR Narayana Murthy's new venture capital fund, 'Catamaran', will help entrepreneurs across sectors like healthcare, retail and technology with early stage investments.
"I have always believed that entrepreneurship is an instrument of creating jobs, and is the best way to solve poverty of a country like India," said Murthy. On Thursday, Infosys Technologies said in a statement to the stock exchanges that Murthy had sold eight lakh shares, some 0.13 percent of the company on October 21 and 22, raising around 
174.30 crore.
"I have obtained permission from the CEO, and will perhaps expand the capital at an appropriate time," said Murthy. He declined to provide information about the size of investments he would make in shortlisted companies, but said they will never be a limiting factor.
"We will not be in a hurry to finish the fund, there's no time limit for spending," added Murthy. Catamaran is derived from 'kattumaram' in Tamil, which is a multi-hulled boat that moves very swiftly.
"It's like a small boat that is very agile. Ideally, we'll start investing in a year or two, and would like to do early stage investments," said Murthy.
For ensuring the agility of his new venture fund, the Murthy will initially hire some 3-4 young, smart individuals to be based in Bangalore.
"I am already 63, so we will have smart people who know more than I do. VCs will have to help entrepreneurs in crystallizing ideas, they will have to do this," said Murthy, who would also mentor companies and will help them form their ideas by connecting with other partners.
174.30 crore.
"I have obtained permission from the CEO, and will perhaps expand the capital at an appropriate time," said Murthy. He declined to provide information about the size of investments he would make in shortlisted companies, but said they will never be a limiting factor.
"We will not be in a hurry to finish the fund, there's no time limit for spending," added Murthy. Catamaran is derived from 'kattumaram' in Tamil, which is a multi-hulled boat that moves very swiftly.
"It's like a small boat that is very agile. Ideally, we'll start investing in a year or two, and would like to do early stage investments," said Murthy.
For ensuring the agility of his new venture fund, the Murthy will initially hire some 3-4 young, smart individuals to be based in Bangalore.
"I am already 63, so we will have smart people who know more than I do. VCs will have to help entrepreneurs in crystallizing ideas, they will have to do this," said Murthy, who would also mentor companies and will help them form their ideas by connecting with other partners.