Information technology (IT) company Infosys has invested €5 million for a minority stake in German venture capital fund UVC Partners. The investment will be made as and when the capital is called over the investment period of approximately 5 years.
"The Infosys Innovation Fund aims to partner with UVC's ecosystem and startups to complement its capabilities and co-create next-generation solutions," the company said in an exchange filing.
These solutions leverage artificial intelligence (AI) and Deep Tech to aid clients in their business transformation efforts.
Infosys said Germany is a strategic market for the company, and UVC is a leading early-stage venture capital firm investing in disruptive startups within the German and European ecosystems. "AI and Deep Tech are rapidly evolving and are crucial to Infosys' strategy, with increased usage across its clients for creating intelligent products, experiences, and business transformations," the IT company said in a press release.
Infosys has bought a minority holding, not exceeding 20 percent of the fund size, in the all-cash deal.
The investment in the new fund, UVC Fonds IV GmbH & Co. KG, will be made through Infosys Germany GmbH, a wholly-owned subsidiary of Infosys.
UVC focus areas include AI, software, deep tech, space tech, semiconductors, quantum, robotics, decarbonization, nuclear fusion, hydrogen, and mobility.
Infosys said UVC has access to industrial networks and talent from a leading European technical university, UnternehmerTUM, with which UVC has an exclusive partnership.
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