N R Narayana Murthy, chairman of Infosys Technologies, said his new venture capital fund

RELATED ARTICLES Nasscom guidance is ambitious: Infosys Infosys top management salary bill crosses $10 million Murthy formula for private push to higher education Infosys may ink pact with NICTA for research work Infosys woes prompt calls for change at top

will be called Catamaran. “The fund has been created on my belief that entrepreneurship is the only instrument to eradicate poverty and create more jobs,” he said while talking to a select group of the media in a telephonic interaction from the US on Friday.

On Thursday, Murthy had raised Rs 180 crore by selling 8 lakh shares in Infosys, but that is not the end of it. “I’m willing to raise more money through the same route at an appropriate time,” he told Financial Chronicle.

Murthy said he is in the process of putting together a team of top talent, who will manage the fund. “I cannot reveal any name yet. But I’m willing to learn from all who have more knowledge about venture funds than me. I’m willing to be a pupil," he said.

Initially the team will not be large. “We may put in place a 3-4 member team in the beginning and then expand as we go forward,” he said.

The 63-year-old IT veteran has been toying with the idea of creating a fund for some time. “It’s all about finding interesting opportunities. And there is no time table for investing. The fund will be largely India focused, and would look at early stage funding."

The fund will get activated over the next few months. Apart from green technology, Catamaran will also look to fund any project that looks exciting and viable at this juncture.

Murthy said he was waiting for the right time to create the fund. “I do not like to start anything without having enough cash in pocket – just like the way I ran Infosys.”

He said there is no other investor in the fund. “I am in charge of this venture, and am not looking any other investor at this point,” he added.