Wipro Ventures, the investment arm of Wipro Ltd, said it has raised its Fund II, of $150 million, which will invest in early to mid-stage companies building innovative enterprise software solutions in areas such as cyber security, application development, analytics, cloud infrastructure, test automation and artificial intelligence (AI).
Wipro Ventures launched its first fund of $100 million in 2015.
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“…Our strategy has been to invest in promising enterprise software startups, establish strategic partnerships with them and bring their leading-edge solutions to our customers. By doing this, we differentiate our customer services, generate revenue for our portfolio companies and deliver strategic as well as financial returns to Wipro. Wipro Ventures’ Fund II demonstrates our continued commitment to this strategy,” Abidali Z Neemuchwala, chief executive officer and managing director, Wipro said in a statement.
Wipro Ventures, managed by Biplab Adhya and Venu Pemmaraju, has so far invested in 16 early- to mid-stage startups, including 11 in the U.S, four in Israel and one in India, a Pune-based big data startup.
Source: livemint
