Mahindra Satyam (hereinafter “MSAT”), a leading global Consulting, IT and Business services provider and SBI Holdings, Inc. (hereinafter “SBIH”), a leading global internet based financial conglomerate and Japan’s largest venture capital/ private equity house, currently managing more than US$ 3 billion, today announced the launch of a joint fund aimed at investing in ICT companies globally.
The total size of the proposed fund will be US$ 50mn with equal contribution from both. The fund will be subject to regulatory and other approvals. 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.
Mahindra Satyam considers “innovation” as an integral enabler to its future growth, intends to harness new business opportunities in IT Services/Consulting work from companies the fund invests in, possible revenue stream from other portfolio companies of SBIH and access to next-generation technologies, in addition to financial returns from the judicious investments being made.
Mr.. C P Gurnani, CEO, MSAT said “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, virtualization and security upgrades in the second tier. This path breaking Fund, managed by SBIH’s expertise in this domain, will be a an accelerator for our growth”
Mr. Kitao, CEO of SBI Holdings said“SBIH is excited about this joint fund with MSAT, as combining the two firms’ complementary strengths will create an investment platform which will enable the fund to capture lucrative opportunities in the global ICT sector.”