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Amazon to acquire Narayana Murthy-led Catamaran Venture’s stake in Cloudtail

Amazon india has sought the approval from the competition commision of india (cci) for acquisition of the catamaran venture’s stake in cloudtail..

• Updated Dec 22, 2021, 8:03 PM IST

Amazon India will acquire the 76 per cent stake of Narayana Murthy’s family office, Catamaran Ventures in Cloudtail India, which is the biggest seller on the e-commerce platform. Amazon India has sought the approval from the Competition Commision of India (CCI) for acquisition of the Catamaran Venture’s stake in Cloudtail.

 “Prione Business Services Pvt. Ltd., the joint venture between Catamaran and Amazon, will be acquired by Amazon subject to requisite regulatory approvals. On August 09, 2021, the Partners had announced their decision to not continue the JV beyond the end of its current term of May 2022,” as per a joint statement.

“Amazon will acquire Catamaran’s shareholding in Prione in compliance with applicable laws including all assets and liabilities.  The businesses of the Joint Venture shall continue under the leadership of the current management and on receipt of regulatory approvals, the board of Prione & Cloudtail will take steps to complete the transaction in compliance with applicable laws,” the statement added.   Cloudtail, in which Amazon holds 24 per cent stake, along with Narayana Murthy’s Catamaran Ventures (76 per cent), saw net profit rise by 171 per cent year-on-year to Rs 183 crore in FY21.   It also has Amazon India head, Amit Agarwal as its board member. After the scrutiny from regulators and the government, Amazon and Catamaran Ventures recently announced that Cloudtail India will cease operations from May 2022.

• #Amazon to acquire Catamaran's shareholding in Prione Business Services
• #Amazon to acquire full stake in JV Prione Business Services
• #NR Narayana Murthy's Catamaran
• #Prione Business Services
• #Amazon and NR Narayana Murthy's Catamaran
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Cci clears amazon’s proposal to buy catamaran’s stake in cloudtail parent.

Top Amazon India executives are expected to hold a meeting on the matter on Thursday, people aware of the developments said.

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Commission approves acquisition of Prione Business Services Private Limited by Amazon Asia-Pacific Resources Privat… https://t.co/b3w0LyRwa8 — CCI (@CCI_India) 1646829886000

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Infosys’ Narayana Murthy to double Catamaran’s $1 billion investments in next five years

Catamaran ventures llp will raise its assets under management to as much as $2 billion and is exploring strategic partnerships in three new areas: deep tech, precision engineering and manufacturing, and renewables..

The money manager of billionaire Infosys Ltd. founder Narayana Murthy will hire professionals and double its $1 billion in investments in the next five years, betting India will emerge as a high-quality manufacturing hub. Catamaran Ventures LLP, which began operations in 2009, will raise its assets under management to as much as $2 billion and is exploring strategic partnerships in three new areas: deep tech, precision engineering and manufacturing, and renewables, according to Chairman MD Ranganath. That marks a shift from the firm’s prior focus on services, he said in a recent interview. 

Murthy helped build Infosys into one of India ’s national champions by pioneering a novel strategy of outsourcing technology services. His daughter, Akshata Murty, the wife of UK Prime Minister Rishi Sunak, is a director at the British branch of the clan’s investment firm, a separate entity. Catamaran Ventures, based in Bangalore, employs about 15 staff in India overseeing holdings spanning e-sports, insurance and Elon Musk ’s Space Exploration Technologies Corp. “For the next stage of India’s growth, manufacturing is clearly one of the trajectories,” Ranganath said. “The advantage for India is all this innovation can be tested in India for scale, and then taken to the global markets.”

To back this growth, Catamaran Ventures will actively seek partners to build businesses in the sub-sectors it selects, and add four specialists to its team of investment professionals, Ranganath said. It’s looking to close at least one such partnership in the next few months, he added. 

Amazon Partnership

Murthy’s venture firm previously partnered with Amazon.com Inc. to build up Prione Business Services, which began by helping merchants get online to sell their wares before becoming a dominant vendor itself. Catamaran Ventures’ stake was ultimately bought out by Amazon . The firm will continue to back early- and late-stage companies, according to Ranganath. Catamaran Ventures has also invested in social network Reddit and the National Stock Exchange, India’s largest bourse, according to its website.

Nearly a third of the firm’s investments are in early-stage companies and the rest is evenly split between late-stage and growth enterprises, according to President Deepak Padaki. The firm has also partnered with early-stage funds, he said.

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What Is Catamaran Ventures? (Learn The Ins-and-Outs)

Are you interested in learning about the ins-and-outs of Catamaran Ventures? This venture capital firm has been making waves in the investment world, and you may be wondering what sets them apart.

In this article, we will explore the founders and investors of Catamaran Ventures, the areas of investment they specialize in, the types of investments they make, some of their successful investee companies, and the benefits and challenges associated with investing with them.

Let’s dive in and uncover the secrets of Catamaran Ventures!

Table of Contents

Short Answer

Catamaran Ventures is a venture capital fund that focuses on investing in early-stage startups.

The fund was founded by Narayan Murthy, one of the founders of Infosys.

It has invested in several startups across India, including Ola, Flipkart, and Swiggy.

Catamaran has raised multiple rounds of funding to date, and continues to invest in promising startups in India.

About Catamaran Ventures

Catamaran Ventures is a venture capital firm based in India that focuses on investing in early-stage start-ups.

The firm was founded by Narayan Murthy, the founder of Infosys, and is backed by the Infosys co-founders and their family offices.

It has invested in several start-ups across India, including Flipkart, TaxiForSure, Myntra, and Ola Cabs.

Catamaran Ventures invests in a range of sectors including technology, consumer, healthcare and financial services.

The firm’s investments range from $500,000 to $5 million, though the exact size of the investment depends on each individual venture.

Catamaran Ventures provides not only financial assistance to its portfolio companies, but also strategic guidance and mentorship to help them grow and scale.

It has a team of experienced investors, entrepreneurs, and professionals with a wide range of backgrounds and expertise.

This team is focused on helping portfolio companies reach their full potential.

Catamaran Ventures also has a commitment to sustainability and impact investing.

It focuses on investing in companies that are tackling big challenges in India, such as healthcare and education, as well as those that are working on innovative solutions to improve the lives of people in underserved communities.

Overall, Catamaran Ventures is an exciting venture capital firm that is focused on finding, investing in, and helping early-stage start-ups in India achieve success.

With its deep network and expertise, it is well-positioned to help entrepreneurs turn their ideas into thriving businesses.

Founders and Investors

Catamaran Ventures was founded in 2011 by Narayan Murthy, the founder of Infosys.

With a team of experienced venture capitalists and entrepreneurs, Catamaran Ventures has invested in some of Indias most promising start-ups, including Flipkart, TaxiForSure, Myntra, and Ola Cabs.

The firm focuses on seed and pre-Series A investments in start-ups in the technology, consumer, healthcare, and financial services sectors.

These investments range from $500,000 to $5 million.

The team at Catamaran Ventures is led by Murthy, as well as his son-in-law Rishi Sunak, who serves as the firms Managing Director.

The team is also made up of venture capitalists Rahul Chandra, Akshay Bhushan, and Pankaj Gupta, who have all served as advisors to the firm.

Catamaran Ventures is committed to helping entrepreneurs bring their vision to life and has helped to launch some of the most successful start-ups in India.

In addition to investing in start-ups, the firm also provides mentorship and advice to help entrepreneurs succeed.

The team works closely with start-ups to provide guidance and resources to help them reach their goals.

The firms investments are not only financial, but also strategic.

Catamaran Ventures has a network of advisors and partners that can provide additional resources to help start-ups become successful.

The team works diligently to identify new opportunities in the market and to provide the necessary resources to help them succeed.

Areas of Investment

The firm was founded by Narayan Murthy, the founder of Infosys, and has invested in several start-ups across India, including Flipkart, TaxiForSure, Myntra, and Ola Cabs.

Catamaran Ventures specializes in seed and pre-Series A investments, which range from $500,000 to $5 million, in start-ups in four main sectors: technology, consumer, healthcare, and financial services. The firms investments are focused on helping start-ups grow and develop into successful businesses.

In the technology sector, Catamaran Ventures typically invests in companies that are developing innovative solutions for the digital and internet industries.

This could include anything from software development to online services and applications.

The firm also invests in consumer-focused start-ups, such as those in the food and beverage, retail, and lifestyle industries.

In the healthcare sector, Catamaran Ventures invests in companies that are developing treatments, products, or services that can improve the quality of healthcare.

This could include anything from medical devices and diagnostics to health IT and healthcare services.

Finally, in the financial services sector, the firm invests in companies that are developing solutions in banking, payments, insurance, and wealth management.

These investments could include anything from fintech solutions to alternative lending platforms.

Catamaran Ventures is committed to helping start-ups grow and develop into successful businesses.

Through its investments, the firm hopes to help entrepreneurs turn their ideas into tangible products and services that can make a positive impact on society.

Types of Investments

Catamaran Ventures is a venture capitalist firm that invests in early-stage start-ups.

The firm was founded by Narayan Murthy, the founder of Infosys, and has invested in multiple start-ups across India, including Flipkart, TaxiForSure, Myntra, and Ola Cabs.

Catamaran Ventures specializes in seed and pre-Series A investments in start-ups in the technology, consumer, healthcare, and financial services sectors.

The firm’s investments range from $500,000 to $5 million.

Catamaran Ventures focuses on a variety of investment strategies.

The firm is actively involved in seed investments, which is the earliest stage of the venture capital cycle.

Seed investments provide start-ups with the capital they need to get off the ground and develop their products or services.

Catamaran also makes pre-Series A investments.

Pre-Series A investments are typically larger than seed investments and are used to help start-ups develop and scale their business.

In addition to seed and pre-Series A investments, Catamaran Ventures also makes venture debt investments.

Venture debt is a type of loan that start-ups can use to finance their operations and growth.

Catamaran provides venture debt to start-ups with established revenues and growth prospects.

Catamaran Ventures also has a venture accelerator program.

The program helps start-ups develop their business through mentorship, workshops, and access to capital.

The accelerator program is a great way for start-ups to get the support they need to reach their goals.

Finally, Catamaran Ventures has a venture portfolio program.

The program provides start-ups with access to capital and resources to help them scale their businesses.

The venture portfolio program is a great way for start-ups to get the support and resources they need to grow and succeed.

Overall, Catamaran Ventures is an experienced venture capitalist firm that has a variety of different investment strategies.

From seed and pre-Series A investments to venture debt and accelerator programs, Catamaran Ventures has the resources and expertise to help start-ups reach their goals.

Successful Investee Companies

Catamaran Ventures is known for its successful investments in various start-ups across India.

The firm has invested in many prominent startups, including Flipkart, TaxiForSure, Myntra, and Ola Cabs.

All of these companies have gone on to become major players in their respective sectors and have seen a tremendous amount of growth and success since their respective investments from Catamaran Ventures.

Flipkart, for example, is India’s largest online retailer.

The company was founded in 2007 and has since become one of the most successful online retail companies in the country.

It has grown exponentially since its investment from Catamaran Ventures in 2009 and is now the largest e-commerce company in India, with over 200 million registered users.

TaxiForSure is another successful start-up that has seen great success since its investment from Catamaran Ventures in 2013.

The company is now India’s leading taxi booking service and has grown to become the go-to transportation service for millions of Indians.

Myntra is an online fashion and lifestyle company that has seen tremendous growth since its investment from Catamaran Ventures in 2010.

The company is now the leading fashion and lifestyle e-commerce platform in India, with over 30 million registered users.

Lastly, Ola Cabs is one of the most successful ride-hailing companies in India.

The company was founded in 2011 and has seen tremendous growth since its investment from Catamaran Ventures in 2014.

The company now has over 150 million users and is the most popular ride-hailing service in India.

These are just a few of the successful investee companies that Catamaran Ventures has invested in.

It is clear that the firm has a knack for identifying and investing in the right start-ups and has seen tremendous success as a result.

Benefits of Investing with Catamaran Ventures

Catamaran Ventures is an excellent choice for entrepreneurs looking for venture capital investment in the early stages of their business.

The firm, founded by Narayan Murthy, the founder of Infosys, has an impressive track record of successful investments in the technology, consumer, healthcare, and financial services sectors.

Catamaran Ventures specializes in seed and pre-Series A investments, offering up to $5 million for each investment.

With a wide range of resources and expertise, the firm offers valuable guidance and advice to entrepreneurs throughout the investment process.

In addition to providing capital, Catamaran Ventures is known for providing invaluable mentorship and guidance to entrepreneurs.

The firm has a comprehensive network of experienced venture capitalists, business leaders, academics, and tech experts who are available to provide advice and support during the life of the investment.

This access to a wide range of resources gives entrepreneurs the confidence and resources they need to succeed.

Catamaran Ventures also has an impressive track record of successful investments, having invested in companies such as Flipkart, TaxiForSure, Myntra, and Ola Cabs.

These investments have generated significant returns for the firm and its investors, and demonstrate the firms ability to spot and capitalize on promising opportunities in the early stages.

Finally, Catamaran Ventures offers competitive terms, with investments ranging from $500,000 to $5 million.

This makes it an attractive option for entrepreneurs looking for capital to fund their start-up.

With its impressive track record, experienced team, and competitive terms, Catamaran Ventures is an excellent choice for entrepreneurs looking for venture capital investment in the early stages of their business.

Challenges Faced by Catamaran Ventures

Catamaran Ventures is a venture capitalist firm based in India that has faced a number of challenges since its founding by Narayan Murthy in 2006.

One of the biggest challenges faced by the firm is finding the right start-ups to invest in.

With the sheer number of start-ups in India, it can be difficult to differentiate between those with potential and those that are unlikely to succeed.

Another challenge is the competitive nature of the venture capital industry in India.

A large number of investors are competing for the same start-ups, making it difficult for Catamaran Ventures to secure the deals that they are looking for.

Furthermore, the start-ups that they do invest in must be able to demonstrate that they have a viable business model in order to be successful.

Finally, the firm must also be wary of the potential for fraud or other unethical practices in the start-up world.

While Catamaran Ventures has a rigorous process for vetting potential investments, there is always the possibility that the company could be taken advantage of.

As such, the firm must remain vigilant and diligent in its due diligence process to ensure that it is only investing in the best start-ups.

Final Thoughts

Investing with Catamaran Ventures is an excellent opportunity for aspiring entrepreneurs to receive capital to take their start-up to the next level.

With its focus on technology, consumer, healthcare and financial services, Catamaran Ventures has the expertise to invest in a variety of businesses.

Despite the challenges faced by the firm, Catamaran Ventures has proven its success by investing in several successful start-ups like Flipkart, TaxiForSure, Myntra, and Ola Cabs.

If you are an entrepreneur looking for venture capital, then Catamaran Ventures is a great option to explore.

James Frami

At the age of 15, he and four other friends from his neighborhood constructed their first boat. He has been sailing for almost 30 years and has a wealth of knowledge that he wants to share with others.

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Billionaire Infosys founder Murthy to double private firm's investments

Catamaran ventures, based in bangalore, employs about 15 staff in india overseeing holdings spanning e-sports, insurance and elon musk's space exploration technologies corp.

Narayan Murthy, Infosys Ltd. founder

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First Published: May 24 2023 | 10:38 PM IST

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Catamaran Ventures: Infosys’s N. R. Narayana Murthy Sails into PE

Catamaran ventures: innovative strategies for business expansion.

Catamaran Ventures is a pioneering investment firm with a focus on fostering innovation and growth in India.

With a diverse investment portfolio, the firm primarily concentrates on venture capital, private equity, public markets, and joint ventures with global multinationals.

By seeking out differentiated and financially sound businesses helmed by competent, committed, and trustworthy entrepreneurs, Catamaran Ventures aims to shape the future of various sectors including e-commerce, technology, financial services, consumer goods, healthcare, and education.

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Private Equity India

Managing over $1 billion across asset classes, Catamaran plays a crucial role in creating innovative enterprises within the country.

Gaja Capital: Leading Private Equity Firm in India

The firm not only invests in bold ideas put forth by passionate entrepreneurs but also actively collaborates with them across different stages to build successful enterprises.

Establishing strategic partnerships with respected global corporations, Catamaran Ventures further contributes to the development of enduring enterprises in India, catering to a wide range of industry sectors.

Establishment and Growth

Founding and Key People

Catamaran Ventures was established in 2010 by N. R. Narayana Murthy, the founder of Infosys, a global leader in IT services and consulting. Headquartered in Bangalore, India, the venture capital firm has grown steadily under the leadership of executives like Deepak Padaki, who has played a significant role in shaping the company’s investment playbook. The team of professionals at Catamaran Ventures is committed to creating enduring enterprises with sustainable growth.

Investment Approach and Stages

The firm’s investment strategy focuses on various stages of a company’s growth trajectory, from early-stage to late-stage ventures. Over the years, Catamaran Ventures has made significant inroads in the Indian startup ecosystem by backing innovative ventures across sectors such as technology, healthcare, consumer goods, and financial services.

By leveraging the expertise and experience of its team, Catamaran Ventures identifies promising opportunities and nurtures them through various stages of growth, empowering the respective entrepreneurs to achieve their full potential. The firm’s commitment to strategic collaborations, partnerships, and active engagement with its portfolio companies allows it to add value and foster success in the long term.

To date, the company has seen notable exits and successful investments, making it a trusted player in the Indian venture capital landscape. With a confident and knowledgeable approach, Catamaran Ventures continues to contribute to the growth and prosperity of the Indian startup ecosystem.

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VC firm founded by Rishi Sunak’s wife Akshata Murty to shut down

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Catamaran Ventures UK, an investment firm founded by Akshata Murty, wife of Prime Minister Rishi Sunak, will shut down, according to company filings.

The VC firm’s most recent filing on Companies House shows that the directors have decided to “liquidate the company”. The wind down was first reported by The Times .

The company was co-founded in 2013 by Sunak and Murty as the British arm of her father’s India-based VC Catamaran Ventures. Sunak stepped down as director in April 2015, shortly before he was elected as an MP.

The most recent balance sheet for Catamaran Ventures UK put the value of its investments in 2022 at £3.8m, an increase from the £3.5m from 2021.

The filings also revealed that its cash holdings fell from just below £400,000 in 2021 to £21,890 in 2022.

Catamaran Ventures UK has been criticised in the past due to its portfolio firms receiving tax-funded grants.

Labour leader Sir Kier Starmer this year called out Sunak and Murty after Study Hall, an edtech startup backed by Catamaran, received close to £350,000 from Innovate UK, a publicly funding body.

Starmer said in May that there are “questions to answer in relation to this” and that there appeared to be an “emerging pattern of behaviour here”.

The now-collapsed education startup Mrs Wordsmith, also backed by Catamaran, received £650,000 in funding from the Future Fund, a government scheme launched during Sunak’s time as chancellor.

UKTN has contacted Catamaran Ventures and Downing Street for comment.

Labour Probes Sunak’s Family Finances and Questions Tax Liabilities

D oubts surround the closure of Catamaran Ventures, an investment firm owned by UK Prime Minister Rishi Sunak’s wife, as Labour presses for answers on the potential impact, government connections, and tax liabilities. Here’s the full story.

Transparency and Accountability Questions

The recent closure of Catamaran Ventures UK, an investment firm owned by Akshata Murty, wife of UK Prime Minister Rishi Sunak, has raised eyebrows and prompted the Labour Party to seek answers.

With questions lingering about the company’s connections to government-backed businesses and the potential impact on other companies, concerns are being voiced about transparency and accountability.

Catamaran Ventures, established by the Sunak family in 2013, focused on investing in start-ups. While Rishi Sunak served as a director until 2015, his wife, Akshata Murty, became the majority shareholder a year later.

The company’s holdings were transferred to ShareGift, a charity, with the exception of Bloom & Wild, a flower delivery start-up, which remains in Ms. Murty’s name.

Labour’s Inquiry and Concerns

Labour’s national campaign coordinator, Pat McFadden, has written to Deputy PM Oliver Dowden, seeking clarification on several crucial aspects. McFadden’s inquiries touch upon the potential repercussions of Catamaran Ventures’ closure on government-backed businesses and other companies it retained stakes in.

Additionally, questions are raised about tax payments owed to HMRC and whether all liabilities to the British taxpayer will be fulfilled.McFadden emphasized the necessity for the prime minister and his wife’s interests to be accurately declared in the Register of Ministerial Interests, underscoring the importance of “integrity, professionalism, and accountability.”

Government Grants and Business Connections

The Sunday Times had previously reported that Catamaran Ventures held shares in Study Hall, an education start-up that received a government grant nearing £350,000.

This revelation prompted Labour’s concerns about the potential impact on government-backed businesses and the need for a thorough examination of financial entanglements.

In response to the closure, a spokesperson for Ms. Murty revealed that a “significant donation” had been made to ShareGift, an independent UK-registered charity. Ms. Murty, known for her charitable endeavours, has shortlisted several causes focused on veterans’ affairs and education for consideration at the time of disbursement.

This move, while showcasing a commitment to philanthropy, raises questions about the motivations behind the closure and subsequent donations.

Political Implications

With an impending election on the horizon, Labour’s decision to address the closure of Catamaran Ventures signals a potential strategy to bring Ms. Murty’s wealth into the political discourse.

McFadden, however, denies any attempt to derive “political capital” from the issue. He asserts that Labour’s intention is to ensure transparent declarations as the venture concludes, especially given the involvement of taxpayer money in the companies previously invested in by Catamaran Ventures.

This isn’t the first time the Sunak family’s finances have come under scrutiny. Earlier revelations about Akshata Murty’s non-dom status, allowing her to avoid UK tax on overseas earnings, stirred controversy.

In response to criticism, Ms. Murty committed to paying UK tax on her foreign income. With her father being the founder of Infosys, one of India’s largest companies, and her ownership of shares in the firm valued at £700 million, the family’s financial affairs continue to be in the public eye.

Integrity and Ethics in Government

As the closure of Catamaran Ventures unfolds, Labour’s inquiry and the ensuing questions shed light on the need for transparency, accountability, and proper disclosure of financial interests.

With potential implications for government-backed businesses and taxpayer liabilities, the situation calls for a thorough examination to ensure integrity in political and business dealings.

As the political landscape evolves, the closure of Catamaran Ventures and its aftermath may become a focal point in the broader discourse on financial responsibility and ethical governance.

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The post Labour Probes Sunak’s Family Finances and Questions Tax Liabilities first appeared on Edge Media .

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