Two Asian companies have launched a new fund for investment opportunities in ICT (information and communication technologies) companies globally.
These two investment partners are India's Mahindra Satyam (MSAT), a leading global consulting, IT and business services provider, and SBI Holdings (SBIH), a leading global Internet-based financial conglomerate and Japan's largest venture capital/ private equity house. SBI currently manages more than US$3 billion.
The total size of the proposed fund will be US$50 million with equal contribution from both partners.
According to a Mahindra Satyam statement, 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.
"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," said C. P. Gurnani, CEO, MSAT. "This path-breaking fund, managed by SBIH's expertise in this domain, will be an accelerator for our growth."
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