Infosys founder Narayana Murthy and daughter Akshata Murty’s startup company Catamaran Ventures is set to shut down after a major controversy erupted.
Akshata Murty, wife of UK Prime Minister Rishi Sunak and daughter of Infosys founder Narayana Murthy, has a massive net worth of over Rs 5500 crore, but is now set to shut down one of her most controversial businesses – Catamaran Ventures UK.
As reported by The Times, the company filings state that Narayana and Sudha Murty’s daughter Akshata Murty has now decided to shut down her controversy startup company Catamaran Ventures, which has been a subject of scrutiny for several years.
Catamaran Ventures UK was co-founded by Akshata Murty and Rishi Sunak, and backed by Infosys founder and Indian billionaire Narayana Murthy. According to its website, the investment firm handles USD 1 billion worth assets, which is more than Rs 8320 crore.
Catamaran Ventures had been investing wealth stemming from Akshata Murty’s stake in Infosys into startup companies to make them profitable. The investments of the company were valued at around USD 4.6 million, but it was disclosed that the company owed Akshata USD 5.5 million (Rs 45.75 crore).
It was alleged that some of the firmed backed by Catamaran Ventures was getting major influxes of cash through government schemes and initiatives funded by taxpayer money, making them more profitable and making Akshata Murty’s firm a success.
Not just a link to the taxpayer money, but a pattern of failed ventures and startups was also being noticed in Catamaran, which led to Akshatha Murty’s decision to shut down the company.
However, Akshata Murty’s only source of income is not Catamaran Ventures. Apart from this firm, Rishi Sunak’s wife is also a director at the gentlemen's outfitters New & Lingwood and the gym chain Digme Fitness. She also owns 0.95 percent shares of Infosys, her father’s company.
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