Indian software services exporter Infosys Ltd is making a Limited Partner-style investment in US-based artificial intelligence-focussed venture capital fund, The House Fund II LP.
As part of the transaction, Infosys will pick up a minority stake in The House Fund II for $10 million (Rs 69 crore), Infosys said in a stock market disclosure. The investment is expected to be completed in the April-June quarter, it added.
The House Fund has invested in more than 50 startups and has struck seven exits including from digital freight firm Flexport, which was acquired by Facebook, and music analytics venture Asaii, which was bought by Apple, according to its website. It makes pre-seed investments of up to $250,000 and early-stage investments of up to $500,000.