TCS to take JV route in venture capital
Business Standard — December 22, 2004

Asia's largest software company, Tata Consultancy Services, is taking a renewed look at its role as a venture capitalist. The company is looking at tying up with venture capitalists to invest in technology-focussed outfits. Earlier, it used to fund startups on its own. S Ramadorai, managing director and chief executive officer of TCS said, "We are looking at partnering with venture capitalists for joint investments. This time around, the approach will be more formalised."

TCS had decided to go easy on venture funding activity after its initiative with Viventures ran aground. The renewed interest can be traced to the various delegations of Silicon Valley firms coming to Indian shores in the recent past.