Persistent Systems Sets $10mn Angel Fund; Will Do ‘Idea Investing’

Pune based Persistent systems has setup $10mn VC Fund to invest in early-stage tech startups.

Persistent

“We are doing idea investing and not investing in a business model,”the company’s Chief Operating Officer Mrityunjay Singh told PTI.

Persistent is focusing on investing in up to 40 startups using the fund (has already invested in 5 startups, including wearable tech startupp , Hyginex from within the country as well as outside, especially in the US and Israel).

The company had also acquired Hoopz in 2014.

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