Wipro allocates USD150m for investment in enterprise software firms
Wipro Ventures announced that it will invest in enterprise software companies using its USD150m Fund II. Wipro said in a statement that its strategic investment arm will continue to put money in early to mid-stage companies that develop innovative enterprise software solutions across key areas that include cybersecurity, application development, analytics, cloud infrastructure, test automation, and artificial intelligence.
Abidali Z Neemuchwala, Wipro CEO and managing director, said Wipro Ventures’ strategy has been to invest in promising enterprise software startups, develop strategic partnerships with them, and bring their leading-edge solutions to clients. He explained that the strategy allows them to differentiate their customer services, gain revenue for their portfolio firms, and deliver strategic and financial returns to Wipro.
Wipro Ventures has invested in 16 early to mid-stage startups in the US, Israel, and India, and in five early-stage enterprise-focused venture funds in Israel, New York, and Los Angeles.
Read more at Business Insider India.
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