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Temasek to invest $162.5 million in three Info Edge Ventures funds

Temasek's investment will make up only 50 percent of the total corpus of these funds, and the balance 50 percent will be invested by Info Edge or its subsidiaries.

April 28, 2022 / 07:31 PM IST

Singapore investment firm Temasek has committed a total of $162.5 million across three funds of Info Edge Ventures, the investment arm of naukri.com's parent company Info Edge.

The portfolio of Info Edge Ventures includes Zomato and PB Fintech which is the parent of Policybazaar and Paisabazaar. Both Zomato and PB Fintech went public last year.

In a regulatory filing on April 28, Info Edge said that Temasek will be investing $50 million in the second scheme of Info Edge Venture Fund, $75 million in Info Edge Capital, and $37.5 million in Capital 2B. Temasek's investments will be made through MacRitchie Investment, an indirect wholly-owned subsidiary of the firm.

The company had also invested $50 million in Info Edge Venture Fund's maiden fund back in 2020. Info Edge Ventures' first fund had raised a total of $100 million (Rs 750 crore).

Temasek's investment will make up only 50 percent of the total corpus of these funds, and the balance 50 percent will be invested by Info Edge or its subsidiaries, subject to approvals from shareholders. The voting window for the approval will close on May 21.

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Incorporated in 1995, InfoEdge also owns and operates real estate classifieds website 99acres.com, matrimonial website jeevansaathi.com, and education classifieds platform shiksha.com.

Besides Zomato and PB Fintech, Info Edge has also invested in logistics software firm Shiprocket, edtech platform Adda 247, B2B e-commerce platform Bijnis, offline commerce platform Dot, agritech startup Gramophone, among others.

More recently, the company acquired a 76 percent stake in the dating platform Aisle. Info Edge Ventures also led a $28 million round in lifestyle goods tech platform Geniemode.

With a network of 62 offices located in 43 cities throughout India, Info Edge has 4,049 employees across n innovation, product development, integration with mobile and social media, technology and technology updation, research and development, quality assurance, sales, marketing, and payment collection.

It has also made forays abroad into the Gulf market with the website naukrigulf.com and currently has offices in Dubai, Bahrain, Riyadh, and Abu Dhabi.



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first published: Apr 28, 2022 07:31 pm
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