IT and outsourcing firm Infosys said it would invest USD10m in California-based artificial intelligence-focused venture capital firm, The House Fund II LP. In a statement, Infosys said it will be entering into an agreement with The House Fund II, an AI-focused fund targeting start-ups from the University of California at Berkeley, with a USD10m commitment. The transaction is expected to be completed before the first quarter of the 2019-2020 financial year. Infosys has previously made such Limited Partner-style investments with its USD500m startup fund, that is, the Infosys Innovation Fund. Last year, Infosys appointed long-time employee Deepak Padaki to head the Infosys Innovation Fund. The House Fund II has so far invested in more than 50 startups, which includes AI, machine learning, and data analytics.
Join the world's premier outsourcing community
Get the world's leading outsourcing news summary, Inside Outsourcing, delivered to your inbox each week, for free. Plus, benefit from being a part of the fastest growing outsourcing community.
- Breaking news: daily web updates with outsourcing sector updates
- Newshub: Browse over 4,000 outsourcing industry news items
- Access: get outsourcing white papers, guides, articles, videos and podcast episodes
- BPO community: join our extensive outsourcing community
- Cancel anytime: zero obligation, no spam, just great information