Indian IT firms become venture capitalists
Wipro is mulling a fund to invest in start up ventures, with an initial corpus of up to $25 mn, NDTV has learnt. TCS, which already owns a $25 mn venture fund with the industry body Nascomm and ICICI Bank, is now looking to scale up to $50 million soon. These investments are typically between Rs 1-10 crore and it's no charity, it does benefit the funding company.
