India’s second largest outsourcing firm InfosysBSE -0.36 % has formed a finance and investment committee on its board to oversee all major investments that the company makes in new-age startups, as well as the acquisitions that the company pursues, at a time when the former IT sector bellwether is aggressively pursuing buyouts and tapping disruptive early-stage firms as part of CEO Vishal Sikka’s broader strategy.
ET had first reported on June 3 last year that Infosys had formed an investment committee on its board to oversee and vet all new acquisitions and large investments of India’s second-largest software exporter.
“The purpose of the Finance and Investment Committee is to assist it in overseeing acquisitions and investments made by the Company and to provide oversight on key investment policies of the Company,” Infosys said in its latest annual report.
Infosys, which has a $500-million war-chest to go after investments in startups, has so far invested in seven early-stage ventures — including India’s ANSR Consulting and US-based startups such as Waterline Data, WHOOP and CloudEndure — and one venture capital firm Vertex Ventures.
Read more here!