Mahindra Satyam, SBI Holdings Launch $50 Million ICT Fund

By | 21 February 2012 | 20:26

Tokyo-based financial service firm SBI Holdings (Softbank Investment Group) has entered into an agreement with software services company Mahindra Satyam to set up a $50 million technology focused venture capital fund, said a press release. The two partners will make equal commitments to the proposed fund corpus. The fund aims to invest in information, communications and technology companies globally.

SBI Holdings has interests in several sectors including financial services and real estate. Its venture capital and private equity businesses manage capital worth over $3 billion. This includes joint investment funds with Temasek Holdings in Singapore, FPT in Vietnam and and Invest AD in Abu Dhabi.

Hyderabad-based Mahindra Satyam expects to harness new business opportunities in information technology services and consulting work from companies in which the fund invests and potentially generate revenues from other portfolio companies of SBI Holdings, said a company release.

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