Wipro Ventures, the corporate venturing vehicle for IT services provider Wipro, has provided an undisclosed amount of funding for Israel-based venture capital firm TLV Partners, LiveMint has reported.
India-headquartered Wipro formed the $100m Wipro Ventures unit in 2014 and has so far provided funding for five US and Indian startups. It invested less than $5m in the first fund to be raised by TLV, which closed at $115m.
Founded in 2015, TLV Partners invests in innovative startups at series A stage, and Wipro intends to access new technologies in the enterprise software and cybersecurity sector through its investment.
A Wipro spokesman told LiveMint: “The areas of engagement are enterprise software and security. We engage with these companies based on the level of maturity of the solution and the specific needs of our clients.”