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.
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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.
