Mahindra Satyam, an India-based consulting, IT and business services provider, and SBI Holdings, a Japan-based financial conglomerate and private equity firm, have launched a $50m global fund.
Both companies contributed the funds equally, and they will invest in information and communications technology companies globally, the companies said yesterday in a statement.
C P Gurnani, chief executive of Mahindra Satyam, said: "With sharp focus on the future trends, we intend to go full throttle on investing into emerging spaces such as Mobility, Social Networking, security Solutions and Cloud. Investments in enterprise mobility and collaborative applications are the leading IT investment priorities for businesses in 2012, with infrastructure consolidation, virtualization and security upgrades in the second tier. This path breaking Fund, managed by SBIH’s expertise in this domain, will be a an accelerator for our growth"
Yoshitaka Kitao, chief executive of SBI Holdings said: "SBIH is excited about this joint fund with MSAT, as combining the two firms’ complementary strengths will create an investment platform which will enable the fund to capture lucrative opportunities in the global ICT sector."