Narayana Murthy, Azim Premji to set up family investment fund at GIFT City

However, a source close to the development said that the application is still in the regulatory stage.

India may soon get its first family investment fund (FIF) when two of the country’s most successful entrepreneurs, N R Narayana Murthy and Azim Premji, set up one each at GIFT City, Gujarat.

Catamaran Ventures, the family office of Murthy, and Premji Invest, which represents similar interests of Premji, have applied to the International Financial Services Centres Authority (IFSCA) to set up India’s first FIF.

The IFSCA (Fund Management) Regulations, 2022, have a framework to facilitate self-managed investment funds of family offices.

An email sent to Catamaran Ventures and Premji Invest did not elicit any response.

However, a source close