CA Tech invests with IDG Ventures in Indian startups
CA Technologies has invested in Indian enterprise software startups with venture capital group, IDG Ventures India. The investment was made to aquire early visibility into the said startups, according to The Times of India (TOI).
CA Tech Chief Executive Officer Mike Gregoire said, "We are considering investments in other regions that offer similar ROI (return on investment) opportunities. We are making progress in recruiting the right talent and making appropriate R&D investments to maintain and gain leadership positions in high value areas of the IT stack such as DevOps (anything that smoothens out the interaction between development and operations), identity management, mobility and analytics based IT business management."
The said investment was made in the last quarter of 2013, the report added.
IDG Ventures India is a venture capital fund that focuses on tech firms in India. Its portfolio companies include Manthan Systems, Aujas Networks, Forus, Myntra, and iCreate. The fund is under tech venture fund network IDG Ventures, the report detailed.
CA Tech, a Fortune 500 firm, focuses on an IP-led strategy to stand out in the market. The firm's plan to seek out Indian enterprise software startups reflects the emergence of innovation in the Asian country, TOI reported.