Info Edge, best known for being an early investor in Indian unicorns like Zomato and policy bazaar, is launching a new VC fund worth ₹100 crore, according to a company filing that it has sent to SEBI. It has invested in some very successful startups in the country, with companies like Zomato and Policy Bazar being just a few stars on its satchel. Now, the investor is looking to siphon all the talent that it possibly can in the country and has started a fund for tech based startups.
Info Edge Venture Fund (IEVF), which is the name given to this SEBI-registered Category-II alternative investment fund, is looking to invest in tech and tech enabled startups that bring something different to the table and have the possibility of becoming phenomenons (like Zomato). Plans are to pour about Rs 100 Cr in this fund, as it was cited in a regulatory filing with NSE by Info Edge. However, this is likely just a rough figure and the investment can go up as more investors get on board.
Info Edge already has an impressive resume for itself in the country, with more than 50 startups under its belt. Just recently, three of Info Edge’s investments made the news, the most popular of it being Zomato’s acquisition of Uber Eats’ Indian operations, an event that had been foresighted a long time ago by experts. Others included the sale of the entire stocks held by Info Edge in meritnation to Aakash group and Policy Bazaar’s secondary transaction of $25 million.
Info Edge was founded by Sanjeev Bikhchandani and has since founded multiple internet-only businesses including the likes of Naukri.com, Jeevansathi.com, 99acres.com and Shiksha.com, which have gone on to become household names.
The company does great business and witnessed a revenue of Rs 1,150.9 crore with a total expenditure of Rs 861.4 crore, with a profit of Rs 592.2 crore.