Wipro Ventures invests undisclosed amount in Israeli VC firm TLV Partners

According to Wipro’s latest annual report, the company invested in the Tel Aviv-based venture capital firm sometime during the 2015-16.
TLV Partners is estimated to have a corpus of about $115 million and focuses mostly on ventures in the cyber security, enterprise software and the Internet of Things (IoT) space,according to CrunchBase. This aligns closely with Wipro’s aims too, as it notes in its Annual report,

As part of a start-up engagement model, we have invested in building a world class ecosystem through a $100 million corporate venture capital fund, Wipro Ventures, aimed at investing in cutting edge startups in areas such as Digital, IoT, Big data, Open source, cyber security and Artificial Intelligence (AI). In 2015-16, Wipro Ventures has seen strong traction and scale. We have made six investments with a cumulative spend of US$ 15 million and a further committed spend of US$ 5 million in FY16.

Wipro considers its current focus areas to be in- big data and analytics, AI, IoT, mobility, cloud infra, fintech and security – technologies that are reshaping the future of enterprises.

Wipro Venture’s  is jointly led by Wipro executives Venu Pemmaraju and Biplab Adhya, who report to Wipro strategy chief Rishad Premji. In April, Wipro invested an undisclosed amount for a minority stake in Silicon Valley-based cybersecurity startup Vectra Networks. For the full article click here 

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