The VC fund is administered by EDB Investments Pte Ltd, which is the investments arm of the Singapore Economic Development Board (SEDB). M-Commerce Ventures is planning to focus on mobile portals, personal information management and messaging, bandwidth optimisation, and other areas in the wireless space.

The fund will work closely with its strategic investors as well as with other wireless and mobile commerce organisations such as the Singapore Mobile E-Services Bazaar, a m-focussed incubation center launched by Hewlett Packard in May 2000.

"Wireless technologies are the logical next step for businesses seeking to push their digital frontiers. Over the past few months, Infosys worked hard to build in-house wireless expertise and we expect this investment to yield opportunities for partnerships with start-ups in this space," Infosys deputy managing director S Gopalakrishnan said.

According to the company, Infosys chairman NR Narayanamurthy is planning to invest in high-end technology areas and start-up companies.