Wipro Ventures announces $150M Fund II to invest in digital enterprise companies
Wipro Ventures has made an announcement of closing its $150 million Fund II. Buoyed by the success of its first $100 million fund launched in 2015, Wipro Ventures will continue to invest in early to mid-stage companies building innovative enterprise software solutions across key areas, including cyber security, application development, analytics, cloud infrastructure, test automation, and AI.
Wipro Ventures, managed by Biplab Adhya and Venu Pemmaraju, has so far invested in 16 early- to mid-stage start-ups, including 11 in the US, 4 in Israel and 1 in India. More than 100 of Wipro’s global customers have benefited by deploying solutions from these portfolio companies.
Companies within the portfolio have seen successful exits, including Demisto, a cyber security company that was acquired by Palo Alto Networks.
Rishi Bhargava, a co-founder of Demisto, credited Wipro’s commitment to joint sales and go-to-market support, as one of the key drivers of its success
In addition to making direct equity investments, Wipro Ventures has also invested in five early-stage enterprise focused venture funds in Israel, New York and Los Angeles.
“Wipro Ventures has become an integral part of our innovation ecosystem. Our strategy has been to invest in promising enterprise software start-ups, establish strategic partnerships with them and bring their leading-edge solutions to our customers. By doing this, we differentiate our customer services, generate revenue for our portfolio companies and deliver strategic as well as financial returns to Wipro. Wipro Ventures’ Fund II demonstrates our continued commitment to this strategy,” said Abidali Z Neemuchwala, Chief Executive Officer and Managing Director, Wipro Limited.