Infosys, India’s second largest information technology (IT) services exporter, has reportedly launched a $100m innovation to fund in order to focus on new ideas, products and platforms.
SD Shibulal, Infosys’ chief executive, told news provider VCCircle about the fund as the company has also appointed Leo Puri, formerly with private equity firm Warburg pincus, as an additional director of the company.
Infosys has previously seen some spin-outs, including VAS firm OnMobile and Yantra Corp, which was acquired by SBC Communications.
Shares of the company are valued at around $30bn.