Ex-HCL honcho floats Rs 100-cr venture fund

His new technology investment firm, TechCelx, to use fund for developing disruptive products and businesses

HCL Technologies former Chief Executive Anant Gupta on Friday announced a Rs 100-crore venture fund for developing disruptive products and businesses through his new technology investment firm TechCelx.

"As an integrated business acceleration and investment firm, we will focus on developing digital technology products and platforms in enterprises," said TechClex Founder Chairman and Chief Executive Gupta in a statement in New Delhi.

The company will also invest in ventures which will specialise in machine learning, IoT (Internet of Things), AI (Artificial Intelligence), Analytics and Data Science and Automaton across banking, education and healthcare verticals.

"Our vision is to help start-ups develop and apply next-gen technology solutions to disrupt legacy operating models," asserted Gupta.

Gupta is backed by three industry partners from investment banking and IT sectors in the new venture fund.

"We will invest between Rs 50 lakh and Rs 10 crore in disruptive technology ventures and the shareholding will range between 15-51 per cent," said Gupta.

An industry veteran, Gupta was also a co-founder of Comnet, a tech start-up.