Infosys, which is the second largest IT company of India is now making a Limited Partner style investment in the US-based AI focused venture capitalist fund, The House Fund II LP.
As a part of the deal, Infosys will pick up the minority stake in The House Fund II for $10 Million. The investment is also expected to be completed by the end of next quarter.
The House Fund II targets the startups which are launched by the faculty, students, and alumni of the University of California, Berkeley.
“The company announced today that it will be entering into an agreement with The House Fund II, LP, an AI-focused fund targeting start-ups from the University of California, Berkeley, committing to invest $10 million,” the company said in a note.
Infosys has made the LP bets wits its $500 Million startup fund, that is the Infosys Innovation Fund.
Infosys, last year has appointed the Deepak Padaki, to head the Infosys Innovation Fund for the long time period.
The fund as of now has also invested in two VC firms which include the Stellaris Venture Partners and Vertex Ventures.
It has also backed the nine startups which includes the WHOOP Inc, a US company which is offering much more performance solution for the sports and athletes teams, and CloudEndure, which is an Israeli startup that is focused on cloud migration and cloud-based disaster tool.