2 hrs ago
Catamaran Sharpens Focus on India’s Growth-Stage Manufacturing Investments
Catamaran is an investment firm connected to Infosys co-founder N R Narayana Murthy.
It wants to invest more money in established manufacturing companies in India.
These companies already have products and customers.
They may need money to build more factories or expand to other countries.
Catamaran is interested in aerospace, electronics, electric vehicle parts and medical devices.
It usually invests ₹50 crore to ₹250 crore and does not seek to control the companies.
The firm plans to keep its money invested for as long as it creates value, rather than following a fixed deadline.
It says the main challenge for these companies is carrying out their expansion plans successfully.
Catamaran is prioritizing growth-stage manufacturing and supply-chain businesses in India.
Its focus includes precision manufacturing for aerospace, electronics, electric vehicles and medical devices.
The firm typically invests ₹50 crore to ₹250 crore as a minority strategic investor.
Catamaran is targeting companies expanding factories, entering new markets or pursuing acquisitions.
It expects about 20% returns on direct growth-stage investments and plans three to four investments annually.
- Who
- Catamaran, the family investment office of Infosys co-founder N R Narayana Murthy, led on this strategy by President Deepak Padaki.
- What
- Catamaran is increasing its focus on growth-stage manufacturing and supply-chain investments.
- Where
- The focus is on building manufacturing competitiveness in India, with potential partnerships across Asia.
- When
- The strategy was described in an article published September 21, 2026.
- Why
- Catamaran believes India needs stronger global manufacturing supply chains and sees opportunities in companies expanding factories, markets and capabilities.
Key facts
- Investment focus
- Growth-stage manufacturing and supply-chain businesses
- Target sectors
- Aerospace, electronics, electric vehicle components and medical devices
- Typical investment size
- ₹50 crore to ₹250 crore
- Investment position
- Minority investor with strategic intent
- Expected direct-investment return
- Around 20%
- Planned annual cadence
- Approximately three to four companies
- Main identified risk
- Execution of expansion plans rather than product-market fit
Quotes
Deepak Padaki
President of Catamaran
“When we looked at the next 10 years in India, we felt what is required is to build global competitiveness in the manufacturing supply chain in the country”
thehindubusinessline.com
“We are not getting in at product-market fit. There is a product, it has already got good customers”
thehindubusinessline.com
Sources
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