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<ul><li>Premji Foundation, <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> along with SIDBI have led an investment of ₹960 crore in venture debt fund <keyword id="4844054" type="PERSON" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword>. </li><li>This makes Alteria Capital the largest venture debt fund in India. </li><li>Alteria invested in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Dunzo, Vogo, Stanza Living, toppr among others.</li></ul>Former Wipro Chairman <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s Premji Foundation, Flipkart co-founder Binny Bansal along with SIDBI,invested ₹960 crore in the venture debt fund, <a href="https://timesofindia.indiatimes.com/business/india-business/premjis-ngo-bansal-put-rs-960cr-in-venture-debt-co/articleshow/70424468.cms">Alteria Capital</a>. This investment has made Alteria Capital the biggest venture debt fund in the country. According to reports, it is also SIDBI’s single largest investment, as the government nodal agency pumped in as much as ₹160 crore. Alteria Capital was founded by Ajay Hattangdi and Vinod Murali who had earlier led Innoven Capital. The firm has so far invested in hyperlocal delivery startup Dunzo, electric bike startup Vogo, student accommodation startup Stanza Living among others. The firm also placed its bets on cricketer Virat Kohli’s apparel brand Wrogn. Meanwhile, ace entrepreneur and investor Binny Bansal has been on an investment spree. In July, he invested in fashion designer Masaba Gupta’s brand. In June, Bansal sold some of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. That leaves him with a residual share of 3.52% in the company he co-founded. He made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. Interestingly, earlier Bansal for his own fund had raised money from his co-investor in the round for Alteria Capital – Premji Foundation. Bansal formed 021 Capital with his financial adviser Sailesh Tulshan for which he had raised $32 million from Premji Foundation and a few former Flipkart colleagues.

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://www.youtube.com/watch?v=KgY5OBpU5rM">YouTube/Topcoder</a>Appirio CEO Chris Barbin</div></div></div>On Thursday, Wipro <a href="http://economictimes.indiatimes.com/articleshow/54951822.cms">confirmed rumors</a> that it was buying Indianapolis-based Appirio. It paid $500 million. Appirio was co-founded by CEO Chris Barbin in 2006 and backed by Fidelity, General Atlantic and Sequoia (Sequoia's A-list VC Jim Goetz was on its board.)While half a billion is undoubtedly a nice exit for Barbin, WiPro didn't exactly overpay. Appirio had raised over $110 million in venture funding, including a $35 million round in April, 2015 that valued the company at $535 million, <a href="https://my.pitchbook.com/#page/profile_175703674">according to Pitchbook</a>. It was valued at $500 million prior to that last round.Investors owned just over half the company.Appirio is a consultant that helps businesses move to cloud computing services like Salesforce, Workday, Google Apps, Cornerstone and others. It also helps companies write custom apps on top of those services. It has about 1,250 employees but it also owns Topcoder, a startup it bought in 2013. Topcoder is a marketplace for hiring programmers, which became really popular with about 500,000 coders using it when Appirio bought it.Appirio is particularly well known as a Salesforce consultant, so much so that Marc Benioff himself commented on the sale in the press release, saying: "Chris and his team have spend the last decade building Appirio into a global leader delivering amazing customer experiences with Salesforce. I couldn't be more proud of Appirio as it joins Wipro, where together they will continue to drive customer success on a much larger scale."It's a bit curious that Benioff didn't buy Appirio for Salesforce, but given how he's giving this deal his public blessing, it doesn't look like his heart was broken over it.WiPro wanted Appirio for its close partnerships with Salesforce and Workday and a customer list that includes Coca-Cola, eBay, Facebook, Home Depot, and Sony PlayStation.And Workday's CEO Aneel Bhusri has given a similar thumbs up to the deal, saying in the press release, "Appirio has played a key role in the Workday Community, and we're thrilled to see such a great opportunity for the team's continued growth."Before founding Appirio, Barbin was an exec at Borland International, a one-time big software developer tools maker headquartered in Scotts Valley, California, just outside the Bay Area. Micro Focus bought Borland in 2009 for $75 million. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/popup-house-pack-home-build-like-lego-pieces-2016-10">This Lego-style home can be built in a few weeks with just a screwdriver</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="05YjBzMDE698ehoE9CCcB4NUsPtDLX3L" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

This man just sold his 10-year-old company to Wipro for $500 million

New Delhi, Jan 24 () Sanjeev Bikhchandani-led Info Edge, which owns and operates India's largest online job portal Naukri.com, has created a Rs 750 crore war chest for its maiden venture capital fund to invest in tech start-ups.
 Noida-based Info Edge on Thursday informed stock exchanges that it has set up Info Edge Venture Fund (IEVF) to invest in "tech and tech-enabled entities that provide technology to create, market and distribute innovative products and services that benefit consumers at large."
 While the filing put the contribution in the new fund at Rs 100 crore, sources in the company said what is being mentioned is just the initial amount and the planned fund size is Rs 750 crore.
 Further contributions will be made into the Fund as investment opportunities are identified, they said, adding that the company management expects internal accruals from operations will be more than adequate for this purpose.
 Info Edge, by setting up its own investment vehicle, joins the likes of home-grown technology titans Infosys and Wipro. Most other large Indian corporates have primarily preferred to invest from their respective balance sheets.
 While Wipro through its strategic investment arm Wipro Ventures has closed its second investment fund - the USD 150 million Fund-II, Infosys - that launched its Innovation Fund in 2015, has invested in multiple startups.
 On Thursday, Info Edge announced an investment of Rs 100 crore into a Category II AIF Info Edge Venture Fund sponsored by its wholly-owned subsidiary Smartweb Internet Services Ltd. This had led to some speculation that Info Edge has set up a 100 crore VC fund for investment in tech start-ups.
 Sources said Rs 100 crore was only the initial capital and the corpus was as large as Rs 750 crore.
 In the last three years, Info Edge has invested around Rs 800 crore in external start-ups, either directly or through its wholly-owned subsidiaries, and the investing activity is likely to continue at the same rate.
 The Info Edge external investing programme is widely regarded as a success by both shareholders and the start-up community.
 It has been a prolific investor in India's startup ecosystem, having backed companies, which have since then, emerged as some of the country's most richly-valued ventures, such as food delivery and restaurant recommendation company Zomato, and online insurance aggregator PolicyBazaar, both of which are in the fabled unicorn club.
 Being the first investor in unicorns like Zomato and Policybazaar, it continues to be a meaningful shareholder in them. 
 Sources said as the investing activity has grown, the company felt the need to create an AIF through which investments would be made. This investment vehicle is a preferred route for a number of reasons, they said.
 First, it would be more entrepreneur-friendly from a compliance, regulatory and angel tax perspective. Second, it would bring increased rigour and discipline into the Company's investment strategy. Third, it would bring more focus on the exit strategy. Fourth it would provide a structure where the company can attract and retain the best talent for VC investing through alignment of interests.
 Sources also clarified that Info Edge Ventures will focus on making financial investments into start-ups. Strategic investments into start-ups in the jobs, real estate, matrimony, and education classified space will continue to be made directly through the parent Info Edge and its subsidiaries, as will acquisitions and any follow-up investments in existing portfolio companies.
 The team managing new Investments at Info Edge Ventures will continue to manage the existing financial investment portfolio as well. And the team managing strategic investments (non-financial investments) shall remain the same as earlier. ANZ ANZ MR
MR

Info Edge's tech start-up investment coffer much larger at Rs 750 cr

<ul><li>SaaS platform <keyword id="1836134" type="COMPANY" weightage="20" keywordseo="Icertis">Icertis</keyword> has raised $115 million, and is the latest entrant into the <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> club. </li><li>The startup has raised the funding from <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s <keyword id="648852" type="COMPANY" weightage="20" keywordseo="Premji-Invest">Premji Invest</keyword> and US-based VC firm Greycroft.</li><li>Earlier in June, another SaaS platform <keyword id="741520" type="COMPANY" weightage="20" keywordseo="Druva">Druva</keyword> had raised funds to be a unicorn.</li></ul>India and US-based Software-as-a-Service (SaaS) platform Icertis is the latest startup to join the unicorn club following a <a href="https://tech.economictimes.indiatimes.com/news/startups/icertis-becomes-indias-third-saas-unicorn-with-115m-funding/70256989">funding </a>from Azim Premji’s Premji Invest and US-based VC firm Greycroft. The startup has raised $115 million in its latest fundraising. With its total funding standing at $211 million, the company, which offers contract management, has raced past the $1 billion mark in value, to enter the unicorn club. The startup has 5.7 million contracts so far across 90 countries. Its clients include Adobe, Airtel, Cognizant, Infosys, Microsoft and others. According to <a href="https://tech.economictimes.indiatimes.com/news/startups/icertis-becomes-indias-third-saas-unicorn-with-115m-funding/70256989">reports</a>, with the new funds, the company will invest in building new technologies like blockchain, artificial intelligence and machine learning. It also plans to expand its global presence. In June 2019, another Indo-US-based SaaS startup Druva had entered the unicorn club after raising $130 million in a round led by Viking Global Investors and Nexus Venture Partners. Meanwhile, Premji Invest, which is the family office of Azim Premji, has been investing since 2006 and has placed its bets across 40 countries. See Also: <a href="https://www.businessinsider.in/wipro-azim-premji-in-his-last-agm-spoke-about-technologies-that-the-company-would-focus-on/articleshow/70254296.cms">Azim Premji announces four technologies that Wipro will focus on as he bid adieu</a>

Azim Premji leads an investment in Indo-US startup Icertis, turns it into a unicorn

He invented the first <a href="http://www.businessinsider.in/searchresult.cms?query=Pentium+Processor">Pentium Processor</a> that made <a href="http://www.businessinsider.in/searchresult.cms?query=Intel">Intel</a> the world’s biggest chip-maker. He then invented the <a href="http://www.businessinsider.in/searchresult.cms?query=AMD+K6">AMD K6</a>, popularly known as the ‘Pentium Killer’. 
 
He has the most cracking anecdotes about how <a href="http://www.businessinsider.in/searchresult.cms?query=Robert+Noyce">Robert Noyce</a> (Co-founder, <a href="http://www.businessinsider.in/searchresult.cms?query=Intel">Intel</a>) once called him at his desk when he joined <a href="http://www.businessinsider.in/searchresult.cms?query=Intel">Intel</a> as a young engineer, and how he suggested <keyword id="3240418" type="UNKNOWN" weightage="80" keywordseo="Gordan-Moore">Gordan Moore</keyword> (Co-founder, <a href="http://www.businessinsider.in/searchresult.cms?query=Intel">Intel</a>) to buy off Knight Ridder to get rid of his newspaper worries. 
 
Today he’s better known as the Executive MD of <a href="http://www.businessinsider.in/searchresult.cms?query=IndoUS+Venture+Partners">IndoUS Venture Partners</a>, the VC that funded <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal">Snapdeal</a> back in the days. <keyword id="175777" type="PERSON" weightage="100" keywordseo="Vinod-Dham">Vinod Dham</keyword>, 65 is nothing short of a legend. 
 
He believes Innovation is done by cheap labor, and never misses an opportunity to tell <a href="http://www.businessinsider.in/searchresult.cms?query=Narendra+Modi">Narendra Modi</a> to fund College Projects instead of government-driven research. “They haven’t done anything worthwhile after all”, he says! 
 
He ain’t a big supporter of the <a href="http://www.businessinsider.in/searchresult.cms?query=Ambani">Ambani</a>/Birla model where business is done through subsidies and upfront guarantee of being profitable. “That’s not business. They’re still not profitable”, he dismisses. 
 
He has li’l regard for MBAs, accepts that <a href="http://www.businessinsider.in/searchresult.cms?query=Intel">Intel</a> missed the smartphone chip train and loves the thrill of startups. 
 
Business Insider sat down with this kickass inventor-cum-entrepreneur-cum-Venture Capitalist-cum…um, there’s a long list, and got chatting. 
 
The Father of the <keyword id="175778" type="UNKNOWN" weightage="80" keywordseo="Pentium-Processor">Pentium Processor</keyword> was FORCED into Engineering? 
*Laughs* I ultimately followed my passion, and it paid off. You should really do what you want to do, because then work becomes play. 
 
I was forced to shift from Physics. My brother felt I won’t be able to earn enough money in my life. I don’t blame him for that. 
 
I ultimately ended doing my Masters in Solid State Physics, which is basically <a href="http://www.businessinsider.in/searchresult.cms?query=Semi-Conductors">Semi-Conductors</a>. 
 
It’s one of those things where you need to know Physics, Chemistry, Mathematics, Electronics, Circuit Design, Computer Science, Software, and even Fluid Mechanics. I found it intriguing. 
 
The ‘<keyword id="28115" type="CITY" weightage="60" keywordseo="Intel">Intel</keyword> Inside’ Campaign catapulted the company into the limelight. Do breakthroughs like that just happen? 
It doesn’t happen overnight. It sometimes takes decades. 
 
Intel had existed since 1969. It was only in 1993-94 that we realized <a href="http://www.businessinsider.in/searchresult.cms?query=Intel+chips">Intel chips</a> were going into 90% of the computers, but no one knew they come fitted with the same processor inside. People just asked for a <a href="http://www.businessinsider.in/searchresult.cms?query=Compaq">Compaq</a> or <a href="http://www.businessinsider.in/searchresult.cms?query=IBM">IBM</a> PC. That made us very envious. 
 
It was then that we came up with the idea of the ‘Intel Inside’ sticker. We offered lower prices to consumers who let us stick those. Then Bill Gates got his, and so on and so forth. That’s how it started. 
 
You’re the go-to microprocessor guy. Is smartphone heating bad engineering or necessary evil? 
It’s a necessary evil. Physics creates the heat. 
 
The architecture has been scaled over the last 40 years to one billionth of the original. You’ve not scaled only one thing, and that’s the voltage or power supply. It was 12 Volts earlier, soon became 5 Volts, and finally 3.3 Volts. 
 
If you don’t scale everything, heat will be created as a byproduct. You’re at an atomic level. You can’t go beyond that. So you’ll have to live with the heat. 
 
Alternately, you can try chilling and other mechanisms that <a href="http://www.businessinsider.in/searchresult.cms?query=Apple">Apple</a> is trying. 
 
India’s Smartphone Boom and the Microprocessors Industry 
It had to happen. It was just a matter of time. 
 
Today, if you want to buy the original Pentium machine I built in 1991, it will cost you $200,000. 
 
The only smartphones that are going to be made are the new ones. You can blame Moore’s Law for that. Amazing guy! 
 
Why doesn’t India have a global Software brand? 
The very fact that we are the ultimate destination for software services in the world is our weakness. In <a href="http://www.businessinsider.in/searchresult.cms?query=IT+Services">IT Services</a> the mindset is of service. We’re waiting to be told what to do. 
 
We have an entire generation of young engineers who’ll do anything you tell them to. They’re very smart kids, don’t get me wrong. However, in the process we’ve not allowed them to be creative. 
 
We need to get out of service mode, and get into problem solving mode. It’ll come. I already see <a href="http://www.businessinsider.in/searchresult.cms?query=Vishal+Sikka">Vishal Sikka</a> steering his big boat into product orientation. I’m sure <a href="http://www.businessinsider.in/searchresult.cms?query=Wipro">Wipro</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=TCS">TCS</a> will follow. 
 
Do you buy into the Startup Bubble Idea? 
There are no bubbles, only pockets. In the <a href="http://www.businessinsider.in/searchresult.cms?query=enterprise+software">enterprise software</a> industry in the US, there are 78 Unicorns. Everybody decided to go on funding them as <a href="http://www.businessinsider.in/searchresult.cms?query=IPO">IPO</a> is very hard there. 
 
In the process, if 20-30% of them die, I don’t see a problem. If you want to call that a bubble, you may, but that’s a part of the natural evolution of any business. 
 
Valuation Bubbles 
Greed is human. You work between greed and fear. 
 
Investors are humans too, and they want money. Once everybody’s investing, you don’t want to be left behind, and so you invest. When everybody wants to invest for the same deal, valuations go up, and that’s what’s been going on. However, it has to self-correct. 
 
I won’t worry about it too much. It’s a good time to consolidate, sit back, review and those who can’t make it will go home. 
 
There will be a collective learning. Failures teach you something. You won’t make the same mistakes next time at least. That’s how you learn and grow, and I like it. 
 
VC-funded Startup Ecosystem 
We only get our money’s worth with the home run. 
 
We look at the thousand deals that come to us, and look at a hundred in all seriousness. Out of that we invest in ten, and ultimately invite one. 
 
When you go backwards, there is a very low probability of success in VCs. However, the ones who succeed bring all the goodness into the world. That’s why I’m such a believer. 
 
Big sectors other than E-Commerce 
Data Science, Artificial intelligence and Health Science. 
 
A lot of innovative and creative ideas are coming out of India. 
 
How do you foster innovation at a young age? 
Foster curiosity. 
 
There is a mindset in India that needs to change right from schooling. This change needs to take place significantly at a 6th, 8th and 12th grade level. 
 
We shouldn’t focus on rote learning. Nobody needs 2*2 tables; you have a calculator today for that. Just ask them to be curious and creative in their own way. 
 
Your vision for Mobile Computing 
It’ll become more intelligent. The question is what form it’ll take. 
 
The total computational power of a smartphone will far exceed that of the human brain. It’ll be able to do things that we can’t even imagine. 
 
Image Credit: WizIQ Edtech

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Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

Sanchita Dash

This man just sold his 10-year-old company to Wipro for $500 million

Julie Bort

Info Edge's tech start-up investment coffer much larger at Rs 750 cr

PTI

Azim Premji leads an investment in Indo-US startup Icertis, turns it into a unicorn

Sanchita Dash

Exclusive: The ‘Father of Pentium Processor’ Vinod Dham talks about Startups and where India is headed

Saikat Pyne

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