New Delhi: Former HCL Technologies Ltd chief executive officer (CEO) Anant Gupta on Friday launched a Rs100 crore investment fund TECHCELX, to invest in start-ups focused on digital technologies such as machine learning, Internet of Things, artificial intelligence and analytics.

HCL on Friday announced the elevation of its chief operating officer C. Vijayakumar to the top position in the company to replace Gupta.

TECHCELX will invest between Rs50 lakh and Rs10 crore in disruptive technology ventures and the shareholding will range between 15% and 51%.

“With TECHCELX, I am pursuing my long-term goals and passion towards promoting our country’s entrepreneurship and innovation potential in the technology space," said Gupta, chairman and CEO, TECHCELX.

Also Read: HCL to acquire Butler America Aerospace for $85 million

Three other key partners from investment banking and technology sectors are backing this fund, the company said in a statement.

Gupta, as part of HCL, pioneered remote infrastructure management as an alternate to the prevalent total outsourcing model and led the company in a market disrupted by the advent of new digital technologies.

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