Infosys to invest $10 mn in California-based The House Fund II
The transaction is expected to be completed before the first quarter of the financial year 2019-20
IT company Infosys Friday said it would invest $10 million (nearly Rs 70 crore) in California-based artificial intelligence-focussed The House Fund II.
"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.
The transaction is expected to be completed before the first quarter of the financial year 2019-20.
Minority holding in the proposed transaction will not exceed 20 per cent of the total fund size, the not said.