Mahindra Satyam and SBI Holdings, Inc., a global internet based financial conglomerate and Japan’s largest venture capital/ private equity house, currently managing more than US$ 3 billion have partnered to launch $50mn fund in India.
The total size of the proposed fund will be US$ 50mn with equal contribution from both. The objective of the fund is to help leapfrog the innovation curve by investing in high growth and promising companies in the evolving ICT space, specifically Mobility, Social Networking, security Solutions and Cloud.
“With sharp focus on the future trends, we intend to go full throttle on investing into emerging spaces such as Mobility, Social Networking, security Solutions and Cloud. Investments in enterprise mobility and collaborative applications are the leading IT investment priorities for businesses in 2012, with infrastructure consolidation, virtualization and security upgrades in the second tier. This path breaking Fund, managed by SBIH’s expertise in this domain, will be a an accelerator for our growth” [C P Gurnani, CEO, MSAT]