Info Edge Gets Shareholder Nod for Rs 1,000 Cr Investment in Third Venture Fund

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  Info Edge shareholders approve Rs 1,000 crore investment in its third venture capital fund, showcasing continued confidence in India’s startup ecosystem.
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  99.9995% of shareholders voted in favour of the proposal through postal ballot and remote e-voting.
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  Fund managed by Smartweb Internet Services Ltd, with capital aimed at backing high-potential tech and internet startups.

Shareholders of Info Edge (India) Ltd, the parent company behind the popular job portal Naukri.com, have given a resounding thumbs-up to an investment of up to Rs 1,000 crore for its third venture capital fund. This decision underscores the company’s dedication to fostering India’s vibrant startup ecosystem.

The funds will be channeled through Info Edge Venture Investment Fund III, with Smartweb Internet Services Ltd, a wholly-owned subsidiary of Info Edge, stepping in as both the investment manager and fund sponsor. This strategic move highlights Info Edge’s ongoing commitment to spotting and supporting high-potential startups, especially in the tech and internet sectors.

As per the company’s regulatory filing on Saturday, the approval was obtained through a postal ballot and remote e-voting. Out of 1,274 members who cast their votes, an impressive 1,271 were counted as valid, with an astonishing 99.9995% in favor of the proposal.

Co-founder Sanjeev Bikhchandani took to X (formerly Twitter) to share his appreciation and optimism, stating, “The proposal to invest up to Rs 1,000 crores in Info Edge Ventures Fund 3 was approved with 99.9995% of votes in favor. Thank you for the vote of confidence in our investing abilities, shareholders.”

Info Edge has a solid history in venture investing, having made early investments in companies like Zomato and Policybazaar, both of which have become household names and achieved success in the public markets. The Rs 1,000 crore boost to Fund III is set to enhance the company’s standing as one of India’s key players in supporting startups, paving the way for the next wave of innovation-driven ventures across various sectors.

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