Cisco Systems Inc. said Wednesday it is making an investment for an undisclosed amount in Aavishkaar, a venture fund that promotes development in rural and semi-urban India.
The San Jose-based networking company (NASDAQ:CSCO) plans to invest in Aavishkaar India II Company Ltd., a $120 million fund, to take advantage of its expertise and promote technology-enabled inclusive growth in the area of social entrepreneurship.
Cisco previously committed to investing up to $200 million in venture capital in India over the past few years, of which almost half has been used.
Click here to read the press release from Cisco.
Written by Lisa Sibley. She can be reached at 408.299.1830 or lsibley@bizjournals.com.