Sterlite Technologies has created a venture fund to invest in Indian startups in the digital media, entertainment and education sectors. The company is planning to invest up to Rs 1 billion over the next few years for acquiring minority stake in these startups.
Sterlite Technologies is seeking to capitalise on the government’s digital India, BharatNet and smart cities initiatives, besides the launch of 4G mobile technology in the country.
In 2014, Sterling Technologies had ventured into building and maintaining telecom networks. Earlier, the company used to manufacture only telecom cables. With the new move, the company is planning to create a space in the digital media segment as well.
