Mahindra Satyam, Japan's SBI Holdings team up for $50-m investment fund
21 February 2012
Mahindra Satyam has teamed up with Japanese private equity firm SBI Holdings to set up a $50-million joint fund for investments in promising start-ups.
SBI Holdings Inc Japan's largest venture capital/ private equity house, currently managing more than $3 billion and a leading global internet-based financial conglomerate.
The two will have equal share in the fund, which aims at helping leapfrog the innovation curve by investing in high growth and promising companies in the evolving ICT space.
The joint venture will be subject to regulatory and other approvals, Mahindra Satyam said in a release today.
''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, virtualisation and security upgrades in the second tier. This path breaking fund, managed by SBIH's expertise in this domain, will be an accelerator for our growth'' C P Gurnani, CEO of the company, said.
''We intend to harness new business opportunities in IT services and consulting work from companies the fund invests in,'' he said.