Narayan Murthy, in an interview to ET has announced his plans to turn VC. While he hasn’t detailed out the plan (corpus/sector details/whether he will be an angel investor etc), he is looking for investment beyond computers and high-tech areas.
“I find youngsters want to do all kinds of things. There are people who want to create wealth by booking tickets. There are people who are creating wealth by enhancing the efficiency of production lines. There are people who are creating wealth by providing efficient, decent and cost-effective means for the corporate world. They all have great ideas.” – source
This is surely a great news for early stage startups – there are very few angel investments/early stage investment funds in India focusing on non-tech sectors.
Wipro’s Azim Premji too started his own $1bn fund, and Infosys’s co-founder, NS Raghavan too has launched his own fund, Nadathur Investment and Ojas Ventures.
I firmly believe that this is what India needs at this stage right now – people like NRN should come forward and invest their personal wealth in the making of India 2.0.
Winds of change!
Also see:
- And now, NRN is your Superman (Amar Chitra Katha’s comic book hero)
- Wake up India. Time to NOT go to Work! [Inspiration]
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Considering it will be his own money, I guess that makes him an Angel investor.
He hasn’t announced that yet – he could end up (along with others) launching his own fund.
Nevertheless, it’s a milestone for funding scene in India. In the past, I have spoken to whole lotta millionaire Infoscians, asking them to invest in startups. Their typical reply – “whats the RoI”?
Things will change, if somebody leads the way!
@Ashish Your words were like ordering NRN (likes) to invest his (their) personal wealth on India 2.0
The ROI equation will change when the real-estate (which was never real) takes its real place in 12-18 months time…and when the banks start giving low interest rate….then people will start looking at start-up as investment rather than creating India 2.0.
I hope and firmly believe that NRN wont follow others!.
Like I said (in my last reply), In the past, I have spoken to whole lotta millionaire Infoscians, asking them to invest in startups. Their typical reply – “whats the RoI”?
Things will change, if somebody leads the way!
Any follow on info about Mr. Murthy’s plans? Channel/s for connecting with him in this regard.