The company claims to have gathered Rs 30 crore capitals from its promoters, with plans to pull in an additional Rs 120 crore based on the decisions made by its director board. So, it is fair to assume Sify is launching an Rs 150 crore ($22.7 million) fund.
These investments or partnerships will be particularly directed at those companies with synergies to Sify’s current business lines.
The aims to strengthen and differentiate Sify’s current service and product offerings both for domestic and international markets, and through strategic relationships with target companies outside of India, expand its presence in key markets outside India.
Sify is among the largest integrated ICT Solutions and Services companies in India, offering end-to-end solutions with a comprehensive range of products delivered over a common telecom data network infrastructure reaching more than 1100 cities and towns in India. This telecom network today connects 36 Data Centres across India in addition to Sify’s own 5 Tier III Data Centres across the cities of Chennai, Mumbai, Delhi and Bangalore.
IT majors like Infosys, Wipro, TCS, Mindtree has been looking to invest in the tech start-ups. In April, Infosys launched innovation fund of about USD 100 million and Cognizant has setup a business accelerator to incubate 20 ideas. But in comparison to Silicon Valley where giants like Cisco, Google, Microsoft, etc have been actively involved in acquiring and funding the young start-ups, in India such culture is still in passive mode.