Wipro’s Rs 200 crore fund to back 10 startups in 3 years

NEW DELHI: Wipro Consumer Care-Ventures, a Rs 200-crore fund set up by Wipro Consumer Care Lighting, will invest in 10 startups in the personal and homecare space in three years, Vineet Agrawal, CEO of Wipro Consumer Care & Lighting told TOI.
Wipro Consumer and Lighting, which is the $1-billion plus consumer goods and lighting arm of Wipro Enterprises, is looking to pick up minority stake in around three companies in a year with a view to exit in about five years’ time. The company, however, is not looking to invest in startups that are gunning for angel investments.
“We will look at companies that have a run rate of revenues of at least Rs 1 crore. We will not invest like an angel fund. We want to exit in around five years time and monetise our investment. We will take minority stake of 20-30%,” said Agrawal. The venture fund will focus on personal and home care categories in India, while in southeast Asia it may also invest in startups in the skin care category.