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Narayana Murthy to invest in green VC fund
By siliconindia
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745 crore) and lists eminent Indian scientists Raghunath Anant Mashelkar and Rajendra K Pachauri as Senior Advisors.
Murthy had announced earlier this year that he would like to be an active venture capitalist and is also believed to have considered investing in the Jaithirth (Jerry) Rao founded budget housing venture, reports the Business Standard. Rao is the former promoter of Mphasis and a relative of Murthy.
Muthry's interest in this U.S. based venture capital fund follows the exit of Infosys' other Co-founder Nandan Nilekani, who was on the advisory board of this firm. Nilekani confirmed that he recently quit this position just before he was appointed by the government to head a citizen identification card program.
The San Francisco-based Siderian Venture will focus on early-stage entrepreneurial opportunities in the U.S., Europe and gradually India. The fund plans to invest in market-driven solutions to environmental challenges, focusing specifically on breakthrough business models that accelerate the growth of cleantech markets. Murthy's daughter Akshata Murthy is a Senior Associate at Siderian Ventures.