Tech giants Alphabet and Microsoft acquire startups backed by Wipro Ventures, says Managing Partner Adhya

The venture capital arm of Wipro, a major software company, division Wipro Ventures has seen a few the portfolio businesses get purchased from major independent tech giants (ISVs) like Alphabet, Microsoft, Dell as well as Palo Alto Networks.

"Twelve of these investments have been purchased by larger ISVs (Independent Software Vendor) such as Palo Alto Networks, Alphabet, Microsoft, Dell, etc. and other names. This has resulted in great financial results for us," Wipro Biplab Adhya, managing partner of Wipro Ventures, told Moneycontrol..

In February, Bengaluru's services exporter announced it was investing $200 million in its venture division, Wipro Ventures, in its latest round of funding, which brings the total investment to $500 million.

These startups acquisition have not only brought excellent financial returns but also bolstered Wipro's strategic participation in the technology ecosystem for enterprises.

As a functional part of Wipro, Wipro Ventures deploys funds from the balance sheet of Wipro and returns back to the Wipro. Apart from investment direct, the company has formed limited partnership relationships with companies-focused VC funds across the globe, which gives access to the latest technologies in a variety of markets.

"Our measure of success rests in two areas which are finance and strategy. From a strategy perspective we collaborate in close collaboration with our portfolio businesses and deploy their products across our global client database," Adhya said.

Wipro Ventures has assisted in more than 600 deployments with over 250 customers around the world by integrating its portfolio into corporate environments.

Since its founding, Wipro Ventures has made 37 investments, aiming at the entire spectrum of technology, including DevOps Quality engineering cybersecurity, modernisation of applications data, Artificial Intelligence (AI).