Catamaran Ventures, backed by Infosys Ltd. founder NR Narayana Murthy, has appointed former senior executives of the software services firm as chairman and president.
The move comes months after the Bengaluru-based investment company disbanded Cloudtail India Pvt. Ltd., its joint venture with Amazon.com Inc.'s India unit. Cloudtail was the biggest third-party reseller on the e-commerce marketplace.
Former Infosys CFO MD Ranganath, who was president of Catamaran for the past three years, will take over as the chairman, according to a release on Friday. Deepak Padaki, who recently exited Infosys as executive vice president and chief risk officer, will take charge as president.
MD Ranganath, chairman of Catamaran Ventures.
Deepak Padaki, president of Catamaran Ventures.
"(Ranganath) has helped the firm grow faster and emerge stronger as a key player in the market over the last few years," Murthy, founder & chairman emeritus of Catamaran Ventures, said in the statement. "I'm also very pleased to welcome Deepak. Catamaran will benefit from his experience and leadership as it prepares to scale in this next phase of its journey."
Padaki had joined Infosys in 1992 as a software engineer, and rose through the ranks over three decades to lead deals, strategy and risk management for India's largest second largest IT firm. At Catamaran, he'll be responsible for driving the firm's investment management strategy.
Catamaran Ventures, headquartered in Bengaluru, has over $1 billion in assets under management, and backs startups at various stages of their fundraising. It also invests in diversified asset classes globally.
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