Narayana Murthy’s New Venture Fund
Narayana Murthy’s New view from Infosys: VC Fund
In the last Thursday, Infosys Technologies chairman NR Narayana Murthi sold the company shares worth around 8 lakh of 24 lakh for his new plan ‘Venture capital fund’. As in the company words, VC fund will encourage and support young people having brilliant business ideas. India will be the first country which is going to be applying this VC fund by Narayana Murthy. Only after that it will spread overseas countries through Infosys. As per the company statement 8 lakh of shares had sold for raising around RS.174.3 crore. 8 lakh of share means 0.13% of company financial status. Two months before, in an interview Narayana Murthi shared his ideas which contain his future plans. In the market, people welcomed his idea for VC fund. However, industry observers realized the importance for creating a fund when a person like Mr Murthy starts, as he is still very much a part of Infosys Technologies.
Infosys had informed BSE that the Board of Directors of the Company at its meeting held on October 2009 had declared dividend of Rs 10/- per equity share. After this dividend Narayana Murthi declared the details of VC fund.