Wipro Ventures, the strategic investment arm of Wipro Ltd, announced on Thursday the closing of its $150-million Fund II.
Buoyed by the success of its first $100-million fund, launched in 2015, Wipro Ventures will continue to invest in early- to mid-stage firms building innovative enterprise software solutions across key areas, including cybersecurity, application development, analytics, cloud infrastructure, test automation, and Al, said a company statement.
“Wipro Ventures has become an integral part of our innovation ecosystem,” said Abidali Z Neemuchwala, MD and CEO of Wipro Ltd.
Sixteen investments
Wipro Ventures, managed by Biplab Adhya and Venu Pemmaraju, has so far invested in 16 early- to mid-stage start-ups, including 11 in the US, four in Israel and one in India, said the statement.
Companies within the portfolio have seen successful exits, including Demisto, a cybersecurity company that was acquired by Palo Alto Networks.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.