Info Edge India Approves INR 1,000 Cr Investment in Venture Fund III
Fund III aims to fuel the next generation of tech-driven startups in India.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
In a bold move reflecting its enduring faith in India's startup ecosystem, Info Edge India has secured shareholder approval to invest up to INR 1,000 crore in its latest venture initiative, IE Venture Investment Fund III. As revealed in its BSE filings, the decision was nearly unanimous.
"Results of the Info Edge shareholders postal ballot are in. The proposal to invest up to INR 1000 crores in Info Edge Ventures Fund 3 was approved with 99.9995% of votes in favour. Thank you for the vote of confidence in our investing abilities shareholders," said Sanjeev Bikhchandani, Founder and Executive Vice Chairman, in a post on X.
Announced in February, Fund III aims to fuel the next generation of tech-driven startups in India. Continuing its strategic alliance with Singapore's sovereign wealth fund, Temasek, this new fund is expected to exceed INR 2,000 crore, amplifying Info Edge's influence in the venture landscape.
The company's track record speaks volumes. Its landmark investment in Zomato, which began at INR 4.7 crore, grew exponentially, culminating in a INR 3,000 crore windfall post-IPO in 2021. This success underscored Info Edge's knack for identifying and nurturing high-potential ventures.
Beyond Zomato, the firm has backed names like Policybazaar, NoBroker, and Adda247, investing over INR 2,000 crore in startups across sectors. Rather than seek control, Info Edge typically takes minority stakes, offering strategic support to help founders scale sustainably.
With Fund III now underway, the company looks poised to write the next chapter in India's entrepreneurial success story.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
29 minutes ago
- Bloomberg
India Cuts Import Tax on Crude Edible Oils to Control Prices
Takeaways NEW Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. India halved its basic import duty on crude edible oils, while keeping the tax on refined forms unchanged, in a move to control local prices and support the processing industry.
Bloomberg
29 minutes ago
- Bloomberg
Palm Oil Jumps on Demand Prospects After India Cuts Import Duty
Palm oil climbed to the highest level in almost three weeks on expectations for higher demand after top buyer India cut import duties. Futures in Kuala Lumpur rose as much as 2.6% after India announced on Friday a reduction to levies on edible oils including palm and sunflower in an effort to lower retail prices. The market was closed on Monday for a holiday.
Bloomberg
an hour ago
- Bloomberg
Japan's 10-Year Bond Sale Sees Highest Demand in 14 Months
Demand at Japan's 10-year debt auction rose to the strongest since April 2024 as higher yields attracted investors, helping to soothe the market against a backdrop of rising rates globally. Japan's government bond futures rose 0.12 to 139.14 and 10-year bond yields fell 3 basis points to 1.475%. The bid-to-cover ratio at the ¥2.6 trillion ($18 billion) sale increased to 3.66, compared with 2.54 at last month's auction, higher than the average over the past year.
