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Wipro Ventures sets up $150-m Fund II to invest in enterprise software cos

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.

Source: The Hindu