Narayan Murty to raise Rs 1.8 bn for India-focused venture capital fund.

Infosys' co-founder Mr. Narayana Murthy has off loaded 800,000 shares of the company from his personal holding to raise Rs 1.8 bn for starting an India-focused venture capital fund. However, Mr. Murthy's and his family still control 4.83% in the company. The proceeds of sale will be used as a seed capital for funding young Indian entrepreneurs with brilliant business ideas. Given his track record, we believe this is a welcome development and hope to see many more Infosys' emerging under his guidance.