InfoEdge has recorded 36% return on startup investments since 2007: Sanjeev Bikhchandani
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Naukri.com parent InfoEdge has achieved 36% returns from its early-stage investments in startups since 2007, said founder and vice chairperson Sanjeev Bikhchandani . In a letter to shareholders on Wednesday, the serial entrepreneur said InfoEdge's Alternative Investment Fund (AIF) investments alone have yielded 18.7% returns.The company and its affiliates have invested a total of Rs 3,959.16 crore, with the fair market value of the invested capital growing to Rs 36,855.40 crore today.A lot of these returns were realised in the last five to seven years, as the oldest investments—Zomato and Policybazaar—started to become mature, Bikhchandani wrote. There is a lot of unrealised value in more recent investments, he added.InfoEdge's portfolio companies, including TrueMeds, Geniemode, Attentive.ai, Aftershoot, Mirana, Osfin and InPrime, have received follow-on investments from investors such as Accel , Peak XV, Matrix, Westbridge, Tiger Global, Multiples PE, Fundamentum and others. Bluestone Jewellery, another major investment, has received follow-on funding from Prosus, Peak XV and Steadview Capital, and has filed draft papers for an Indian listing.InfoEdge has invested in 111 companies, of which 76 have tapped institutional co-investors or follow-on investors, Bikhchandani noted."Business growth, growing market share, externally led follow-on rounds by marquee investors etc., are all strong markers of potential value that will get realised in future when these companies list in the public markets (our preference) or get acquired. Intermediate IRRs (internal rates of return) give some indication as to what may be possible tomorrow, but early stage investing tends to be a game of catching potential outliers early. We believe we have a fair number of those across the investments," Bikhchandani stated.InfoEdge started investing in startups with Zomato (now Eternal) and PB Fintech . As of March 2025, the company's holdings in the two listed companies were worth Rs 31,500 crore against its investment of Rs 1,075.18 crore. Ustraa, another of its early investments, has now been subsumed in VLCC. InfoEdge has live investments to the tune of Rs 150.59 crore in IPO-bound Bluestone through two of its funds.
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