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Infosys co-founder and chairman NR Narayana Murthy sold company shares worth $37 mn to set up a VC fund for Indian start-ups. Mr. Murthy is not the first Infosys founder to have set up a fund for incubating emerging companies. NS Raghavan, one of the seven Infosys founders, started Nadathur Holdings and Investments in 2000, and is now serving as chairman of NS Raghavan Centre for Entrepreneurial Learning at IIM-Bangalore. Wipro chairman Azim Premji also runs a PE fund, PremjiInvest, which invests in both listed and unlisted companies across retail and healthcare sectors. PremjiInvest has a corpus of about $1 bn and has invested in companies such as Healthcare Global Textiles Ltd, NSE, JM Financial and Marico among others. Nadathur Holdings and Investments has investments in 17 companies across industries such as life sciences, IT and engineering. It's portfolio includes Cades Digitech Pvt Ltd, Careers India Pvt Ltd, Geetha Kannan Spices and Reach Technologies among others.
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