According to Chairman Rishad Premji, Wipro Ventures Portfolio Is $250 Million And Has Invested In 25 Companies Globally
- ByAyushi Ray | July 14, 2021
Chairman Rishad Premji said today Wipro Ventures portfolio is $250 million and has invested in 25 companies globally. At the company’s 75th annual general meeting on July 14 which was held virtually, Premji said, “Wipro’s merger and acquisitions are strategic either in terms of adding new capabilities, capacities or geographic expansion for us. We also look at some younger companies but we don’t buy younger companies but invest in them through Wipro Ventures.” Wipro Ventures is an investment arm of Wipro, where the firm invests in the early to mid stage new age startup companies that can enhance its portfolio of offerings that the company takes to customers. Since work from home became the new normal amid the pandemic, all Wipro employees will likely never come back to office all the time as they adopt the hybrid work model, said Premji.
Premji said, in the next few months, they would have more clarity on how this work from home model is working for both the company and employee. However, at the moment, close to 97 percent of the employees are working from home, he added. On the vaccination front, the company procured one lakh doses and vaccinated 35,000 employees in its campuses so far. Overall close to 55 percent of the employees have been vaccinated in the country, which the company expects to increase in the coming months. However, he did not share if this includes both the doses or for a single dose.On the issues related to H-1B, Premji stressed that since 75 percent of the employees in the US are locals, and they are dependent on the visas that have been coming down over years. Nevertheless, the firm continues to engage through the IT industry body on pertinent visa related issues.
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