Software major Wipro’s venture capital arm Wipro Ventures has seen some of its portfolio companies being acquired by major independent software vendors (ISVs) such as Alphabet, Microsoft, Dell, and Palo Alto Networks.
“Twelve of those investments have been acquired by other large ISVs (Independent Software Vendor) like Palo Alto Networks, Alphabet, Microsoft, Dell, etc., and some such names. This has produced great financial returns for us,” Biplab Adhya, managing partner, Wipro Ventures, told Moneycontrol.
On February 26, the Bengaluru-based services exporter announced that it would be committing $200 million to its venture arm, Wipro Ventures, in its latest round, bringing the total investment to $500 million.
Meanwhile, these acquisitions have not only provided strong financial returns but have also strengthened Wipro’s strategic engagement in the enterprise technology ecosystem.
As a functional unit within Wipro, Wipro Ventures deploys capital from Wipro’s balance sheet, and the returns flow back to the company. In addition to direct investments, the firm has established limited partner relationships with enterprise-focused VC funds globally, ensuring access to emerging technologies in various markets.
“Our measure of success is on two vectors: strategy and finance. From a strategic perspective, we work closely with portfolio companies, deploying their solutions across our global customer base,” Adhya said.
Wipro Ventures has facilitated over 600 deployments for more than 250 customers worldwide, integrating solutions from its portfolio into enterprise environments.
Since its inception, Wipro Ventures has made 37 investments, going after the full stack of technology including DevOps, quality engineering, cybersecurity, application modernisation, data, and artificial intelligence (AI). The firm’s investment strategy is not limited to financial backing, but also helps startups build go-to-market strategies and scale their enterprise adoption.
Adhya further said that Wipro’s involvement with startups does not end when they are acquired.
“Because of our early knowledge of these solutions, we often become the only systems integrator with deep expertise in them, making us a key partner in the go-to-market strategies of the acquiring ISVs,” he explained.
Giving an example, he mentioned about cybersecurity firm Demisto. Wipro Ventures invested in Demisto before Palo Alto Networks acquired it, integrating its security operations and orchestration capabilities into Palo Alto’s Cortex offering.
“Because of our early knowledge of Demisto’s platform, our relationship with the acquiring company got strengthened, and we could take those solutions to our customers in a more integral manner,” he highlighted.
Similar patterns followed when CloudGenix was acquired by Palo Alto Networks and when CloudKnox Security was acquired by Microsoft.
Adhya said Wipro Ventures is not just an investor but an important intermediary connecting startups, enterprise customers, and Wipro’s business units.
“Wipro Ventures is not just a strategic investor… our purpose is to create a collaborative ecosystem where these emerging technologies can be deployed globally,” Adhya said.
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