CBay Systems founder moves into venture capital
V. Raman Kumar, the founder of CBay Systems, is setting up two venture capital funds targeting the domestic and international markets. The size of funds will be INR1 billion ($18 million) and INR2.5 billion, respectively.
Kumar set up CBay in 1998 with $100,000 in capital and sold his stake in the business to One Equity Partners - J.P. Morgan's private investment arm - in July. At the time, CBay's annual revenues had reached...
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