Infosys will contribute $10m to the second House Fund, which is targeting a $50m close to back UC Berkeley-linked businesses with a focus on AI.
The House Fund, a US-based VC firm focused on University of California (UC) Berkeley’s ecosystem, has secured a $10m commitment for its targeted $50m second vehicle from IT services provider Infosys, according to a regulatory filing.
Infosys’s stake will not exceed 20% of House Fund II’s overall capital. The corporate expects to close the transaction before the first quarter of its 2019-2020 financial year.
The House Fund II aims to help fund businesses launched by UC Berkeley…
