Yusuf Bashir, managing director of corporate venturing unit Infosys Innovation Fund, has left the fund and its parent company, India-based IT services firm Infosys, LiveMint reported yesterday.
Infosys hired Bashir in March 2015 to run the $500m fund, which invests in software developers based in India, the US, Europe and Israel.
Bashir gave in his notice earlier this month, three executives directly aware of the development told LiveMint, and in the last 24 hours he has confirmed the reports of his departure through his Twitter account.
Although a reason for Bashir’s departure was not given, he reportedly made the move less than 10 days after the resignation of Ritika Suri, the executive vice-president of corporate development and ventures to which he reported.
Before taking the MD role at Infosys Innovation Fund, Bashir was vice-president of new products for Germany-based enterprise software producer SAP for more than three years, where he worked alongside Suri.