Today we are proud to announce that Wipro Ventures has launched our Fund II. This second fund represents an additional $150M of capital allocation which we will use to continue investing in enterprise software startups that are strategically important to Wipro.
It has been quite a journey to get to where we are today, and we couldn’t be happier about all we’ve accomplished. We started Wipro Ventures in 2015, and it is now an integral part of Wipro’s innovation ecosystem.
Our strategy has been to invest in early to mid-stage enterprise software startups, establish strategic partnerships with them and bring their leading-edge solutions to Wipro customers. To date, we’ve invested in sixteen early- to mid-stage startups, including eleven in the US, four in Israel and one in India. More than 100 of Wipro’s global customers have benefited by deploying solutions from these portfolio companies.
Our approach has enabled Wipro to differentiate our services, while enabling our portfolio to deploy solutions globally, generating significant revenues for our startups and financial returns for Wipro. Wipro Ventures’ Fund II demonstrates our continued and increased commitment to this strategy.
With this new $150M allocation, we will maintain our focus on investing in enterprise software segments, like cybersecurity, app development, data, cloud infrastructure, and automation solutions, with additional emphasis on specific vertical domains, like 5G, Healthcare IT, and Financial Services.
We’re excited about this next phase for Wipro Ventures. We would like to thank the inspirational founders in our portfolio, our thoughtful co-investors, and all the dedicated Wipro leaders who’ve worked hard alongside our startups to achieve success.
- Venu & Biplab