Infosys' $500 million startup fund managing director Yusuf Bashir quits

Bengaluru: Infosys Innovation Fund managing director Yusuf Bashir, who was leading the US $500-million startup fund of software services for over two years, has resigned from the post, sources said. Bashir had made 12 startup investments, catering to the aim of the company CEO Vishal Sikka to build tech innovation and get more clients under its fold. [caption id=“attachment_3859449” align=“alignleft” width=“380”]  Reuters[/caption] Bashir had joined Infosys in March 2015 primarily to identify and invest in early-stage companies doing cutting-edge work in areas including artificial intelligence, machine learning, big data, cloud and analytics. He was the vice-president of new products at SAP and a former colleague of Sikka. “We do not comment on exits or appointments other than those of key management personnel,” said a company statement. Bashir’s exit comes close on the heels of another top executive Ritika Suri, who was focused on large deals. Suri, who led the acquisition of Israeli automation technology firm Panaya for Infosys, was based out of the US. She had helped Infosys set up a $500 million venture fund to invest in startups, and especially those working on areas like artificial intelligence and automation. Bashir’s exit also comes after the departure of Infosys’ Americas Head Sandeep Dadlani, who was responsible for about one-third of the company’s annual business.