Infosys, one of the leading IT consultancy service company of India, is all set to make its first investment in an Indian venture capital firm.
As per reports ,Infosys is going to invest around $15 million in Stellaris Venture Partners,launched by a team of venture capitalists, who are aiming for a final corpus of $100 million from both local and global investors.
This is the first investment from Infosys in an Indian venture capital fund, the company had earlier invested in Silicon Valley based early-stage VC firm – Vertex Ventures.
The Infosys Innovation Fund was launched in 2015 with an aim to invest in entrepreneurial ventures delivering innovation in domains relevant to the company’s core business. Its aspiration was to amplify start-ups that build purposeful solutions while being steered by innovators who share the same mindset as of Infosys – nurturing deep client relationships with an unwavering commitment to ethics and mutual respect.
It is aiming for a final corpus of around $100 million from local and well as global investors. Another person aware of the development said that the VC firm is also reaching out to “a lot of wealth managers who manage money for large family offices”.
Last month, tech giant Wipro also invested an undisclosed amount in Israel-based venture capital firm TLV Partners from its $100 Mn startup corpus fund.