Early-stage venture capital firm Unicorn India Ventures has signed Federal Bank as the anchor limited partner (LP) for its Rs 600-crore venture debt fund.
The fund, launched last November, is expected to announce its first close this quarter.
"In Federal Bank, we have an ideal Anchor LP for our venture debt fund. We seek to establish a complete 360-degree relationship with our anchor for mutual benefit," M Damodaran, chairman, Unicorn India Debt Fund, was quoted as saying in a release Monday.
The venture debt fund would look to invest in up to 12 startups every year with the investments likely to begin in the third quarter of the financial year, the release said.
******************* Accenture expands data, AI capabilities of automation platform *
Accenture Monday said it has expanded the capabilities of its intelligent automation platform, Accenture myWizard, to help companies to disrupt application lifecycle and drive greater strategic business value.
The firm has bolstered the platform's capabilities by integrating artificial intelligence (AI), automation, analytics and DevOps, through proprietary investments, technology enhancements and expanded ecosystem collaboration, it said in a release.
******************* Obopay acquires consumer technology firm Mubble *
Global financial technology company Obopay Monday announced that it has acquired consumer technology firm Mubble, which is backed by Accel Partners and Nandan Nilekani.
The acquisition is a part of Obopay's long-term strategy to strengthen and enhance its data analytics capabilities and mobile app expertise, it said in a release.
Post acquisition, Ashwin Ramaswamy, co-founder and chief executive of Mubble, will be joining Obopay.
The Bengaluru-based firm provides enterprise solutions for telcos, BFSIs and companies with a dominant supply chain focus.
Disclaimer: No Business Standard Journalist was involved in creation of this content
