Infosys Director V Balakrishnan Quits to Float Rs 125 cr Venture Fund

V Balakrishnan, Director & former Chief Financial Officer of IT major Infosys, who announced his exit from the company earlier today is planning to float a Rs 125 cr venture fund.

The long time Infosys hand who was tipped to become the company’s next CEO will not work for the company after 31 December 2013, a statement said.┬áLast month, Balakrishnan sold all of his daughters Infosys shares worth Rs 33 cr.

Balakrishnan’s predecessor M D Pai who quit the company in 2011, joined the Manipal group and also floated a fund called Aarin capital.┬áBala, as he is known, is currently part of the Unitus Seed Fund, an impact investing fund in which Pai and former Infosys board member Ravi Venkatesan are investors.

N R Narayana Murthy, the Founder of Infosys had come back from retirement earlier to help Infosys recover the ground it lost to peers.

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