25-05-2025
Info Edge to invest Rs 1,000 crore in VC fund with shareholders' nod
parent Info Edge has received shareholders' approval to invest up to Rs 1,000 crore in Info Edge Venture Investment Fund will enable the firm to invest in more startups. Smartweb Internet Services Ltd., a wholly owned subsidiary of Info Edge, will act as both the investment manager and sponsor of the fund.'The members of the company have approved the resolution with requisite majority through remote e-voting postal ballot,' it said in an exchange filing on Saturday.A total of 1,274 members participated, with 1,271 valid votes considered, it said.
'The proposal to invest up to Rs 1,000 crores in Info Edge Venture Investment Fund III was approved with 99.9995% of votes in favour,' the Noida-based firm's cofounder Sanjeev Bikhchandani said in a post on X.
Info Edge started investing in startups with Zomato (now Eternal) and PB Fintech.
Earlier this month, Bikhchandani in a letter to its shareholders said that Info Edge's stakes in Zomato and Policybazaar are together valued at Rs 31,500 crore, or around $3.7 billion, as of March 31.
Overall, Info Edge has invested Rs 3,959 crore ($467 million) across startups from its balance sheet as well as its venture fund, and pegs the fair market value of these investments at Rs 36,855 crore, or approximately $4.3 billion – making it a gross internal rate of return of over 36% per firm has invested in 111 companies, of which 76 have tapped institutional co-investors or follow-on investors, he noted.
