Info Edge Shareholders Greenlight INR 1,000 Crore Boost for Venture Fund III

Info Edge (India) Ltd., the business that runs the job portal Naukri.com, has received approval from its shareholders to spend up to INR 1,000 crore in its third venture fund.

The investment would strengthen the Noida-based company's plan to boost its position in India's expanding venture capital ecosystem by allowing it to support more early-stage entrepreneurs.

In a stock exchange filing on May 24, Info Edge stated that, in relation to the aforementioned, the company hereby notifies its members that, via the remote e-voting postal ballot process outlined in the Postal Ballot Notice, the members have approved the aforementioned resolution with the requisite majority.

 The approval is considered to have been received on the last date the company specified for remote e-voting, which is May 24, 2025.

Smartweb to Serve as Investment Manager and Sponsor

1,271 legitimate votes were taken into consideration out of the 1,274 members who participated in the voting. The fund's sponsor and investment manager will be Smartweb Internet Services Ltd, a wholly owned subsidiary of Info Edge.

Co-founder Sanjeev Bikhchandani posted on X (previously Twitter) that the proposition had received 99.9995% of the vote. Bikhchandani announced that the Info Edge shareholders' postal ballot results were in.

With 99.9995% of the voting in favour, the plan to invest up to INR 1,000 crores in Info Edge Ventures Fund 3 was authorised. He continued by thanking the shareholders for their confidence in the firm's ability to make investments.

Info Edge’s Investment Network

The next fund from Info Edge's venture funds, which collaborate with Temasek, Singapore's sovereign wealth fund, is anticipated to exceed INR 2,000 crore ($230 million). The most noteworthy investment made by Info Edge was in Zomato, where it paid about INR 4.7 crore to purchase a share.

At the time of Zomato's 2021 IPO, Info Edge owned about 18.6% of the company's shares, having made numerous rounds of investments over the years. One of the most profitable startup investments in Indian venture history, Info Edge made approximately INR 3,000 crore from the equity sale during the public offering.

Info Edge has provided funding to a number of high-growth firms in addition to Zomato, such as Policybazaar, ShopKirana, Gramophone, DotPe, Adda247, NoBroker, and Univariety. Over INR 2,000 crore ($250 million) has been invested in a number of startups by it, frequently acquiring minority shares while using its operational know-how to assist portfolio companies.