Patni family launches venture capital fund for Big Data start-ups

Written by fe Bureau | Bangalore | Updated: Sep 11 2013, 08:59am hrs
Amit and Arihant Patni, members of the Patni family, which sold Patni Computer Systems to iGate for $1.22 billion in early 2011, have launched a venture capital fund aimed at start-ups in the Big Data space.

The venture will be the Indian arm of the Silicon Valley-based fund,The Hive, which is a year-oldplatformrun by Big Data investors Sumant Mandal and TM Ravi who will also act as co-investors in the start-ups that the Indian partnership firm will invest in.The Hive India platform, which will be based out of Mumbai and Bangalore, will provide capital in the range of $2,00,000 to $20,00,000 and looks to invest in four to five companies over the next couple of years.

We aim to help entrepreneurs create sustainable businesses that incorporate Big Data by providing them with initial capital, technical and business guidance and access to prospective follow on capital and strategic partners, The Hive India MD Arihant Patni said.