Wipro Ventures invests in Israel VC firm TLV Partners

TLV Partners, founded last year, has a corpus of $115 mn and has invested in three startups so far

Rishad Premji-managed Wipro Ventures, the $100-million venture arm of Wipro, India’s third largest IT firm, has invested an undisclosed sum in Israel-based TLV Partners.

Based in Tel Aviv, TLV Partners, which was founded last year, has a corpus of $115 million and has invested in three start-ups so far, including Aqua, a virtual container security and Oribi, a Facebook ads analytics company.

The firm specialises in linking Israel-based start-ups with those of Silicon Valley, a key attribute that helps start-ups connect with the markets and potentially get acquired by large firms in the Valley. The Economic Times and Mint reported the development today.

Wipro joins cross-town rival Infosys in using the venture corpus in putting money in venture capital firms to discover start-ups that work on emerging technologies. Infosys, which has a $500-million venture corpus, has invested an undisclosed amount in the Silicon Valley-based Vertex Ventures.

Wipro has so far invested in four US start-ups—Vicarious, Vectra Networks, Emailage Corp and Talena Inc and one in India. In India, the company has invested Rs 9.78 crore to pick a minority stake in Pune-based Altizon Systems, which focuses on gaining insights in internet or things and big data technologies.