VCCircle reports that Infy co-founder, NR Narayana Murthy, has sold $37 million worth of Infy shares to setup a VC fund. Proceeds from the sale will be used as seed capital for the fund.
That is great news. He has amazing street cred and is definitely viewed as an entrepreneurial icon who grew Infy to a multinational company.
This is good news. More people might follow his steps , Azim Premji and others.
Dear All Entrepreneurs,
All VC’s are alike .They will come when profits are around.
An eg. NR Narayan Murthy was on front page of ET for showing interest in startups in India.
There is a company providing “internet security solutions” to Banks in India .But this company is not able to break in its clients ,even though it has better product on anti-phising and anti-spamming.It is on multi-factor tool authentication.
Only reason is that the biggies like Infoys and Wipro are deeper clutches and dont allow innovation.
Allowing external innovation ,for them , means loosing a client.
Message is clear I hope
Happy new year to all the strugglers
Was not aware of this.
It sounds good.
NR Narayana Murthy will surely do wonders again !
Do we really respect body shoppers like Infosys, Wipro TCS ??
These companies have no product. they are just renting indian minds ….. no innovation
so what if they have billions….. they do not have a single product
Business is business rajat (even my first name is rajat
), i don’t think it really matters whether it is a prod company or a services company….As long as something positive is happening it should be a good idea right …
Do people ask this questions from VC’s in america whether they started as a prod company or services company
NR Narayana Murthy will surely do wonders again !
I wonder who will get the first funding from him
. Whoever it is, along with the funding they are going to get huge media mileage.