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Amazon to acquire Narayana Murthy-led Catamaran Venture’s stake in Cloudtail

Amazon india has sought the approval from the competition commision of india (cci) for acquisition of the catamaran venture’s stake in cloudtail..

• Updated Dec 22, 2021, 8:03 PM IST

Amazon India will acquire the 76 per cent stake of Narayana Murthy’s family office, Catamaran Ventures in Cloudtail India, which is the biggest seller on the e-commerce platform. Amazon India has sought the approval from the Competition Commision of India (CCI) for acquisition of the Catamaran Venture’s stake in Cloudtail.

 “Prione Business Services Pvt. Ltd., the joint venture between Catamaran and Amazon, will be acquired by Amazon subject to requisite regulatory approvals. On August 09, 2021, the Partners had announced their decision to not continue the JV beyond the end of its current term of May 2022,” as per a joint statement.

“Amazon will acquire Catamaran’s shareholding in Prione in compliance with applicable laws including all assets and liabilities.  The businesses of the Joint Venture shall continue under the leadership of the current management and on receipt of regulatory approvals, the board of Prione & Cloudtail will take steps to complete the transaction in compliance with applicable laws,” the statement added.   Cloudtail, in which Amazon holds 24 per cent stake, along with Narayana Murthy’s Catamaran Ventures (76 per cent), saw net profit rise by 171 per cent year-on-year to Rs 183 crore in FY21.   It also has Amazon India head, Amit Agarwal as its board member. After the scrutiny from regulators and the government, Amazon and Catamaran Ventures recently announced that Cloudtail India will cease operations from May 2022.

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Catamaran Ventures to expand investments, bets on manufacturing

The vc firm set up by infosys is shifting focus from services to strategic partnerships in deep tech, precision engineering and manufacturing, and renewables..

Wednesday May 24, 2023 , 2 min Read

 Catamaran Ventures  LLP, a venture capital firm set up by Infosys, plans to expand its investment to $2 billion in the next five years from the current $1 billion.

The firm is shifting its focus from services to strategic partnerships in deep tech, precision engineering and manufacturing, and renewables, Bloomberg has reported.

Chairman MD Ranganath said manufacturing is a crucial trajectory for India's growth. He highlighted the advantage of testing innovation in India for scalability before entering global markets.

To support this growth, Catamaran aims to hire professionals and actively seek partners to develop businesses in the selected sub-sectors. The firm is in discussions to close at least one such partnership in the coming months, said the report.

Bengaluru-based Catamaran Ventures employs around 15 staff, who oversee various holdings, including e-sports, insurance, and investments in Elon Musk's Space Exploration Technologies Corp.

In the past, the firm had partnered with  Amazon  to establish Prione Business Services, which initially helped merchants transition online and eventually became a dominant vendor itself. Amazon later acquired Catamaran Ventures' stake in the venture.

Ranganath emphasised that Catamaran Ventures will continue to support early-and late-stage companies. Nearly one-third of the company's investment is in early-stage companies and the remaining is evenly split between late-stage and growth enterprises.

The firm's track record includes investment in companies such as the social network Reddit and India's largest stock exchange, the National Stock Exchange.

Edited by Affirunisa Kankudti

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• software versus manufacturing in India

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Nr narayana murthy’s catamaran ventures in talks to pick up stake in udaan.

A minority stake in Udaan will give NR Narayana Murthy’s Catamaran Ventures a foothold in India’s B2B e-commerce space dominated by IndiaMart, JioMart, Amazon Business and Flipkart. It is currently a majority shareholder in Cloudtail, the biggest seller on Amazon India.

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Billionaire Infosys founder Murthy to double private firm's investments

Catamaran ventures, based in bangalore, employs about 15 staff in india overseeing holdings spanning e-sports, insurance and elon musk's space exploration technologies corp.

Narayan Murthy, Infosys Ltd. founder

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First Published: May 24 2023 | 10:38 PM IST

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