ln 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.
The strategy has been to invest in promising enterprise software start-ups, establish strategic partnerships with them and bring their leading-edge solutions to customers, Wipro CEO and Managing Director Abidali Z Neemuchwala said.
"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 ll demonstrates our continued commitment to this strategy," he added.
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 cybersecurity company that was acquired by Palo Alto Networks.
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