Pune based software product and technology company Persistent Systems has launched Persistent Venture Fund, an early-stage investment fund focused on supporting innovation in social, mobile, analytics and cloud computing (SMAC) technologies.
The fund is focused on providing early stage companies from around the globe with seed capital for promising technology ventures, the company said.
Persistent has made its first investment in ustyme, a free, video-call app for iPad that creates shared experiences through content, like books and games. ustyme has content like “Goldilocks and the Three Bears” and “Henny Penny,” and games, like Checkers, Chess and Go Fish.
Persistent is one of the few product companies in India that have achieved some scale. The Pune based company has also played a role in improving the startup ecosystem here.
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