Wipro venture fund to invest in startups

Wipro Ventures, the strategic investment arm of Wipro Limited, on Thursday said it has closed a Rs 1,063 crore ($150 million) fund that will invest in enterprise software companies.

Wipro Ventures will continue to invest in early to mid-stage companies building innovative enterprise software solutions across key areas, including cybersecurity, application development, analytics, cloud infrastructure, test automation, and Al, the company said in a regulatory filing.

“Wipro Ventures has become an integral part of our innovation ecosystem. Our strategy has been to invest in promising enterprise software startups, establish strategic partnerships and bring their leading-edge solutions to our customers, “ said Abidali Z Neemuchwala, CEO & MD Wipro Limited.