NRN to Launch VC Fund, Sells Infy Stocks Worth $37mn

Around April of 2009, NRN announced his plans to launch a VC fund and the plans have fructified now that NRN (Narayana Murthy) has sold Infosys stocks worth $37mn/Rs. 174.3 crore to set up a VC fund.

The fund, as NRN mentioned earlier will provide seed capital to early stage startups (mostly Indian).Infosys Narayan Murthy

“I find youngsters want to do all kinds of things. There are people who want to create wealth by booking tickets. There are people who are creating wealth by enhancing the efficiency of production lines. There are people who are creating wealth by providing efficient, decent and cost-effective means for the corporate world. They all have great ideas.”

Wipro’s Azim Premji too started his own $1bn fund (mostly retail focused), and Infosys’s co-founder, NS Raghavan too has launched his own fund, Nadathur Investment and Ojas Ventures.

These are Winds of Change! We need entrepreneurs like NRN to drive the wave of entrepreneurship in India.

Welcome NRN. We hope to meetup with you pretty soon (with a list of interesting startups!) 🙂

Read: And now, NRN is your Superman (Amar Chitra Katha’s comic book hero)

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