The German venture capital firm UVC Partners has received a €5 million investment from information technology (IT) company Infosys for a minority stake. Over the course of the roughly five-year investment period, the investment will be made as and when the capital is required.The company said in an exchange filing, "The Infosys Innovation Fund aims to partner with UVC's ecosystem and startups to complement its capabilities and co-create next-generation solutions."
These solutions support clients in their business transformation initiatives by utilising Deep Tech and artificial intelligence (AI).
Germany is a strategic market for Infosys, according to the company, and UVC is a top early-stage venture capital firm that funds innovative businesses in 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 information technology company stated in a press release.
In the all-cash transaction, Infosys has acquired a minority stake, not to exceed 20 percent of the fund size. Infosys Germany GmbH, a fully-owned subsidiary of Infosys, will handle the investment in the new fund, UVC Fonds IV GmbH & Co. KG.
AI, software, deep tech, semiconductors, quantum, robotics, decarbonisation, nuclear fusion, hydrogen, and mobility are some of the UVC focus areas.
According to Infosys, UVC has exclusive access to UnternehmerTUM, a top European technical university, which provides talent and industrial networks to UVC.
