AAA Infosys lines up $15m Stellaris commitment

Infosys lines up $15m Stellaris commitment

IT services provider Infosys has entered discussions to invest up to $15m in India-based venture capital fund Stellaris Venture Partners, the Economic Times has reported, citing four people aware of the development.

Stellaris is targeting a final corpus of $100m for the fund and is targeting local and international investors as limited partners. It was formed by Alok Goyal, Rahul Chowdhri and Ritesh Bangalani, all ex-partners of venture capital firm Helion Venture Partners.

Infosys will provide the cash through its $500m Innovation Fund, and will follow an investment in the $151m fund closed by US-based VC firm Vertex Ventures in December 2015. It will not be the anchor investor in the Stellaris fund.

Another person familiar with the fund’s plans told ET Stellaris is reaching out to “a lot of wealth managers who manage money for large family offices” to raise the additional capital, adding: “They have also been reaching out to LPs of Helion Venture Partners where they are getting good traction.”

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