Catamaran Ventures appoints former Infy executives as chairman and president

investment firm Catamaran Ventures Friday named the names of former leaders MD Ranganath as well as Deepak Padaki as its chairman and president respectively.

Ranganat will replace the founder of Infosys and Catamaran NR Narayana Murthywho now becomes honorary chairman of the investment firm.

Padaki, who will replace Ranganath, will be responsible for advancing the firm’s investment management strategy to turn entrepreneurs’ ideas into business results, Catamaran said in a statement.

Ranganath, a longtime assistant to Murthy, stepped down as CFO of Infosys in Bangalore in 2018 after 18 years with the company. He has been President of Catamaran Ventures since October 2019.

Padaki wants to replace Ranganath. He left Infosys last month as executive vice president, group leader of strategy and M&A and chief risk officer after three decades with the company.

Launched in 2009 with an initial capital of $120 million, the fund currently manages over $1 billion across asset classes. He has investments in companies such as beverage maker Paper Boat, space company SpaceX, Acco Insurance, and news aggregator Daily Hunt.

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β€œHe (Ranganath) has helped the firm grow faster and become a key player in the market over the past few years,” Murthy said in a statement. β€œI am also very happy to welcome Deepak. The catamaran will benefit from his experience and leadership as he prepares to scale on the next leg of his journey.”

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