Through his creative approach to outsourcing technology services, Narayana Murthy significantly contributed to making Infosys a well-known firm in India.
Over the next five years, the investment company overseeing the fortune of Infosys Ltd. founder Narayana Murthy plans to increase its investments and add specialists.
According to a Bloomberg report, Catamaran Ventures LLP plans to more than treble its $1 billion in assets under management as it recognises India’s potential as a centre for high-quality manufacturing.
The company’s strategic move away from its prior focus on services and towards new areas, such as deep technology, precision engineering and manufacturing, and renewables, was announced by Chairman MD Ranganath.
Through his creative approach to outsourcing technology services, Narayana Murthy significantly contributed to making Infosys a well-known firm in India.
His daughter Akshata Murty, who is wed to UK Prime Minister Rishi Sunak, works as a director for their family’s independent investment company’s British subsidiary.
A team of about 15 people in India work for the Bangalore-based Catamaran Ventures, which manages a wide range of assets in e-sports, insurance, and the Elon Musk-founded Space Exploration Technologies Corp.
Manufacturing is undoubtedly one of the paths for India’s future prosperity, according to Ranganath. The benefit for India is that all of this innovation can be scaled up tested there before being introduced to international markets.
Catamaran Ventures will actively seek partners to develop businesses in the sub-sectors it chooses to support this expansion, and it will add four specialists to its staff of investment professionals, according to Ranganath. In the upcoming months, it hopes to finalise at least one such partnership, he continued.
In the past, Amazon.com Inc. and Murthy’s venture capital business worked together to create Prione Business Services. At first, the emphasis was on helping retailers create an online presence to sell their goods, but Prione gradually developed into a well-known seller in its own right. In the end, Amazon bought out Catamaran Ventures’ ownership of Prione.
According to Ranganath, the company will continue to support early- and late-stage businesses. The largest stock exchange in India, the National Stock Exchange, and the social network Reddit have both received funding from Catamaran Ventures.
According to President Deepak Padaki, the company invests roughly a third of its funds in early-stage businesses, with the remaining funds equally split between late-stage and growing businesses. He added that the company has collaborated with early-stage financiers.
