Akshata Murty, the wife of UK Prime Minister Rishi Sunak and daughter of Infosys founder Narayana Murthy, is a prominent figure known for her substantial net worth, which exceeds a staggering Rs 5500 crore. However, recent developments have seen her decision to shutter one of her most controversial business ventures – Catamaran Ventures UK.
As reported by The Times, official company filings indicate that Akshata Murty, the daughter of Narayana and Sudha Murty, has opted to close down Catamaran Ventures, a startup that has been under scrutiny for several years.
Catamaran Ventures UK was co-founded by Akshata Murty and her husband Rishi Sunak, and it received backing from her father, Narayana Murthy, the renowned Indian billionaire and Infosys founder. According to the company’s official website, Catamaran Ventures manages assets worth USD 1 billion, which translates to more than Rs 8320 crore.
The primary objective of Catamaran Ventures was to invest wealth stemming from Akshata Murty’s substantial stake in Infosys into various startup companies with the aim of turning them into profitable ventures. While the company’s investments were valued at approximately USD 4.6 million, it was revealed that Catamaran Ventures owed Akshata a significant sum of USD 5.5 million (approximately Rs 45.75 crore).
One of the major points of contention surrounding Catamaran Ventures was the allegation that some of the firms backed by the venture were receiving substantial inflows of cash through government schemes and initiatives funded by taxpayer money. This influx of public funds contributed to the profitability of these companies, ultimately leading to the success of Akshata Murty’s firm.
However, it wasn’t just the connection to taxpayer money that raised eyebrows. Observers also noted a pattern of failed ventures and startups associated with Catamaran Ventures, which prompted Akshata Murty to make the difficult decision to close down the company.
It’s worth noting that Catamaran Ventures was not Akshata Murty’s sole source of income. In addition to her involvement with the venture, she serves as a director at New & Lingwood, a prestigious gentlemen’s outfitters, and Digme Fitness, a gym chain. Furthermore, she holds a 0.95 percent stake in Infosys, her father’s renowned multinational corporation.
The decision to wind down Catamaran Ventures marks a significant development in Akshata Murty’s business endeavors. While it may have been a challenging choice, it reflects her commitment to addressing concerns surrounding the venture and aligning her financial interests with her broader responsibilities and commitments.
As she navigates the complexities of her professional life, Akshata Murty remains a prominent figure in both the business and political spheres. Her actions and decisions, including the closure of Catamaran Ventures, continue to be of great interest to the public and business communities, shedding light on the intricate intersection of wealth, entrepreneurship, and public scrutiny.