India-based IT services provider Infosys is considering investing in venture capital firm 500 Startups’ $200m Fund IV, the Times of India reported on Monday.
The firms are said to be in advanced talks, though neither have officially confirmed the news. 500 Startups first submitted a regulatory filing for Fund IV in September 2015, the same month as it closed its third global fund at $85m, and is seeking $200m.
Infosys plans to co-invest with 500 Startups in digital technology startups. It previously backed VC firm Vertex Ventures, which raised a total of $141m from 41 investors, in September this year.
Infosys also operates its own investment vehicle, dubbed Innovation Fund, which it launched in 2013 with an initial commitment of $100m, before expanding it to $500m in January 2015.
The company has also invested in non-profit artificial intelligence research initiative OpenAI, which secured a total of $1bn last week from investors also including e-commerce company Amazon’s cloud storage service Amazon Web Services and angel investors including Tesla CEO Elon Musk.