Info Edge Shareholders Greenlight INR 1,000 Cr Infusion Into Its VC Fund

Consumer internet company Info Edge has received the approval from its shareholders to invest up to INR 1,000 Cr (about $118 Mn) in its latest startup-focussed fund, Info Edge Venture Investment Fund III. 

Smartweb Internet Services, a subsidiary of Info Edge, will serve as 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…,” Info Edge said in an exchange filing on May 24.

Of the total 1,274 votes cast, 1,271 were considered valid, with 99.999% of members voting in favour of the investment.

The development comes just days after the Sanjeev Bikhchandani-led internet major said the value of its cumulative holding in foodtech startup Zomato and insurtech startup PB Fintech stood at INR 31,500 Cr (around $3.7 Bn) as of March 31, 2025.

Info Edge had invested INR 483.8 Cr and INR 591.4 Cr in the aforementioned startups, respectively.

Founded by Bikhchandani in 1995, Info Edge is one of India’s oldest internet-based companies, which operates across sectors such as recruitment (Naukri), real estate (99acres), matrimony (Jeevansathi) and education (Shiksha).

After backing Zomato and PB Fintech in their early days, Info Edge has been deepening its footprint in the Indian startup ecosystem, pouring money into companies such as men’s grooming brand Ustra, B2B ecommerce platform Shopkirana, edtech platform Adda247, omnichannel inter-city bus travel platform Zingbus, travel tech platform ixigo, among others.

Earlier this month, Info Edge said that its early bets on startups had created immense value for its shareholders. These investments now contribute an estimated 30-40% to the company’s value.

In a letter to its shareholders, Info Edge disclosed that it has invested INR 3,959.1 Cr via its platform and other LPs. The fair market value (FMV) of its invested capital stood at INR 36,855.4 Cr.

Several of its portfolio companies are showing early signs of strong revenue growth, according to Info Edge. Its portfolio companies, including TrueMeds, Geniemode, Attentive.ai, InPrime, among others, have also received follow-on investments from marquee investors such as Accel, Peak XV Partners and Tiger Global.

On the financial front, Info Edge reported a 141% surge in its consolidated net profit to INR 288.4 Cr in the December quarter of the fiscal year 2024-25 (Q3 FY25) from INR 119.4 Cr in the year-ago quarter. Meanwhile, its operating revenue jumped 15% to INR 722.4 Cr during the quarter under review from INR 627.1 Cr in the same quarter last year.

At 12:38 PM, shares of Info Edge were trading 1.3% lower at INR 1,469 apiece on the BSE.