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Infosys set to invest Rs 750 Cr in startups in Silicon Valley, Israel & India

Infosys reportedly plans to allocate a
quarter of its Rs 3,000 crore fund to invest in startups in Silicon Valley,
Israel and India along with venture capital firms, reports the
Economic
Times.

Infosys reportedly plans to allocate a
quarter of its Rs 3,000 crore fund to invest in startups in Silicon Valley,
Israel and India along with venture capital firms, reports the
Economic
Times.

People familiar with development told the
Economic Times that Infosys has had discussions with about two dozen VC firms,
including Andreessen Horowitz, for such investments.

“There are no formal agreements with any
particular VCs. The strategy is to back startups and entrepreneurs with ideas that
align with the company,” an undisclosed person was quoted in the report as
saying. “The idea is not just to be a passive financial investor but take
disruptive solutions to customers.” 

According to the report, Infosys Chief Executive
Vishal Sikka is seeking to broaden the company’s offerings in newer areas of
technology to differentiate it from rivals such as Cognizant and Wipro.

Last month, the company invested about $15
million in a firm spun off from Dream-Works Animation. Then, Infosys bought US
and Israel-based automation startup Panaya in a deal estimated to be about 200
million. 

Previously, Sikka had told the media that Infosys
was holding discussions with venture capital firms almost daily. He also said
that the company was on verge of investing in a company that makes air quality
sensors in the area of Internet of Things.

“Around six months from now would be a good
time to take stock of the progress so far — the team is being built,
strategies (are) being fleshed out,” the second person told the Economic
Times.

Ritika Suri, who joined Infosys from SAP in 2014,
is leading the startup fund and mergers and acquisitions. With the Panaya
acquisition, Infosys is also hoping to tap into Israel’s startup ecosystem
deeper.”Panaya offers a ready network, opportunities to hunt in what’s
among the best startup clusters in the world,” the second person told the
Economic Times.

 

 

 

 

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