Infosys plans to invest in Silicon Valley fund to track innovative startups
BENGALURU: Infosys is taking yet another major step to engage with innovative startups. The $9-billion IT firm is planning to partner with Silicon Valley’s storied venture capital firm 500 Startups by investing in one of its funds.The Dave McClure-backed VC fund, with over $200 million in assets under management, is floating its fourth global flagship fund, Fund IV, and sources said Infosys is in advanced talks to invest in it. An email to 500 Startups remained unanswered, while Infosys said it doesn’t comment on speculation.500 Startups’ current portfolio includes US financial management platform Credit Karma, San Francisco-based cloud communication company Twilio and South East Asia’s taxi-hailing app GrabTaxi. It has seen some good exits. Its portfolio firms, 3D printing company Makerbot Industries and social media marketing company Wildfire were acquired…
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