Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures

Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures

SUMMARY

Ranganath D Mavinakere resigned from Infosys in 2018

Catamaran Ventures is NR. Narayan Murthy’s private investment firm launched in 2009

Catamaran has a 76 % share in Cloudtail India

Former Infosys Chief Financial Officer, Ranganath D Mavinakere, will lead investments at NR Narayanamurthy’s family office Catamaran.

“Ranga is NRN’s longtime trusted lieutenant, and someone considered close to the family. He’s the best person to manage the family office,” a Firstpost report said, quoting an unidentified source.

N.R. Narayan Murthy’s private investment firm, Catamaran Ventures was launched in 2009 with an initial corpus of $120 Mn from Murthy family. The firm funds early-stage startups in India and many countries. It has till now invested in companies including Hector Beverages, Coverfox, Acko and Wellspring. Catamaran has a 76 % share in Cloudtail India, a joint venture with Amazon.com.

Mavinakere joined ICICI Bank in 1991 after completing his engineering and MBA, where he led the treasury and planning team. He joined Infosys in 2000 in financial services consulting. After some year he was appointed as Chief Risk Officer (CRO), a very rare role for an Indian company and later became the chief financial officer (CFO).

Mavinakere, today an independent board member of HDFC Bank, spent 18 years at Infosys. He was instrumental in reviving Infosys in 2013 along with Murthy and his son Rohan. Senior executives HR Binod and Deepak Padaki were also part of the team. N.R. Narayan Murthy had great trust in Mavinakere’s ability to navigate through the complexities of the organisation. Murthy even called him “one of the best CFOs” in India and a “rare individual” when he resigned in 2018.

In his resignation letter Mavinakere, who played leadership roles in consulting, finance, strategy and risk management in Infosys, said, “After a successful career spanning 18 years in Infosys including as CFO for the last 3 crucial years, I now plan to pursue professional opportunities in new areas.”

Infosys founder N.R. Narayan Murthy had earlier said that creating a free business environment for startups is the first step to ensure the prosperity of India. “As entrepreneurs create jobs and opportunities, we can create wealth and pay more tax,” he said.

He has also appreciated the Indian government’s various initiatives such as Startup India and Standup India and has reiterated often that there is a need for a free environment for industries and investors. Meanwhile, the Firstpost report also added that Mavinakere will lead an overhaul of Catamaran Ventures including a rethink of the family office’s startup investments while quoting another unidentified source.

Update | 17:30, December 9, 2019

The original version of this article was titled ‘Former Infosys CFO Mavinakere Will Now Head Catamaran Ventures’.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures-Inc42 Media
Former Infosys CFO Mavinakere To Head Narayana Murthy’s Catamaran Ventures-Inc42 Media
You’re in Good company