Info-tech

UST Global plans to set up VC fund in India to invest in products and solution firms

RAJESH KURUP Mumbai | Updated on January 24, 2018 Published on December 22, 2014

SajanPillai, CEO of UST Global

Will expand its centres in central and eastern India



UST Global, an information technology solutions and services company, is planning to set up a venture capital (VC) fund in India along the lines of its global fund.

The fund, the corpus of which is yet to be finalised, will start investing in Indian products and solution companies from next year.

Focus area

“We are opening up a VC fund in Bangalore, dedicated to investing in companies out of India. We are in the process of completing the formalities…,” UST Global Chief Executive Officer Sajan Pillai told BusinessLine in an interview. “It would focus on algorithm- and mathematically-driven software solutions and material sciences. The fund would be completely held by UST Global,” he said.

The fund, however, will not acquire entire stake in any company. This is to enable entrepreneurs to continue holding stakes in their companies, he added. From its global fund, the firm had earlier invested in six technology companies such as Moonraft, Kuboo and 1-Page among others.

UST Global had also entered into partnership with early-stage venture capital firm Blumberg Capital for investing in global firms.

Hiring talent

The California company is also planning to more than double its engineers in India from the present 10,000 over the next two years.

UST Global is hiring close to 1,000 engineers in Gurgaon, where it is building a new 3-million-sq ft centre. It is also in the process of expanding its existing centre in Thiruvananthapuram, and planning new centres across central and eastern India.

“We are talking to State governments in central India, but in eastern India we are in an exploratory stage,” he said.

High potential

Apart from Gurgaon and Thiruvananthapuram, its centres are located in Kochi, Chennai, Bengaluru and Pune.

“I think the government will do something important to make sure the masses have high bandwidth access and can bring in significant economic change,” he said.

He added that with 3G gathering pace and 4G services being rolled out, opportunities in Indian telecom space were on the rise.

The company, which has about 17,000 engineers globally, is also expanding operations in Latin America, Mexico and Costa Rica.

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Published on December 22, 2014
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