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. Last 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. Bala, 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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