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Business Standard

Info Edge shareholders approve ₹1,000-cr investment in venture fund III

Shareholders of Info Edge (India) Ltd, the company behind job portal have approved a plan to invest up to ₹1,000 crore in its third venture fund. The infusion will enable the Noida-based firm to increase its backing of early-stage startups, reinforcing its strategy to expand its presence in India's growing venture capital ecosystem. 'In connection with the above, we hereby inform that the members of the company have approved the aforesaid resolution with requisite majority through remote e-voting postal ballot process as set out in the Postal Ballot Notice, and the approval is deemed to have been received on the last date specified by the company for remote e-voting, i.e. Saturday, 24 May 2025,' Info Edge said in a stock exchange filing on Saturday. Smartweb Internet Services Ltd, a fully owned subsidiary of Info Edge, will serve as the fund's investment manager and sponsor. The proposal was cleared with 99.9995 per cent votes in favour, co-founder Sanjeev Bikhchandani wrote in a post on X (formerly Twitter). 'Results of the Info Edge shareholders' postal ballot are in. The proposal to invest up to ₹1,000 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,' Bikhchandani posted on X on Sunday. Info Edge has played a key role as an early investor in India's startup landscape, backing companies like Zomato (now Eternal) and PB Fintech (Policybazaar). In a recent letter to shareholders, founder Bikhchandani reported that Info Edge's combined holdings in these firms were valued at approximately ₹31,500 crore ($3.7 billion) as of 31 March 2025.