You are here: Home » Companies » Start-ups » News
Business Standard

Infosys expands start-up fund to $500 mn

BS Reporters 

Infosys on Friday announced expansion of the size of its innovation fund to $500 million, with an aim of playing a bigger role in the start-up system, including globally and in India. The Bengaluru-based information technology services company formed this fund in 2013 with a corpus of $100 million, with an aim of working with start-ups in innovative technology areas.

With the expanded fund, Infosys is looking at investing in areas such as artificial intelligence, Internet of Things (IoT), collaborative technologies and design, the company said.

"It will take time, of course, to draw down from this fund, that will start investing in from around the world, but we also want to have a dedicated focus, especially on Indian start-ups," said Infosys Managing Director Vishal Sikka.

Previously, the fund was managed by Deepak Padaki, earlier heading mergers & acquisitions. With Padaki now managing the strategy, Infosys is contemplating a dedicated leader to manage the fund. "Deepak is our head of strategy and while this was just a $100 mn fund that we were not so focused on, he was also managing it. But with this becoming a $500 million fund, we will probably have to find a new leader to run just the fund," Sikka added.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, January 10 2015. 00:42 IST
RECOMMENDED FOR YOU
.