Noida-based Info Edge has recently announced the launch of its maiden venture capital fund to back tech start-ups in India. Info Edge, which is also the parent company of the online job listing platform Naukri.com, is widely known for backing Zomato and PolicyBazaar.
Naming it as Info Edge Venture Fund (IEVF), the new entity is registered with the Securities and Exchange Board of India (SEBI) in Category-2. The entity is an alternative investment fund to invest in tech and tech-enabled entities that can create, market and distribute innovative products and services that benefit consumers at large.
While this is the company’s maiden fund, Info Edge has been actively investing in Indian start-ups for more than a decade now. The likes of these start-ups include Zomato, ed-tech platform Adda247 and Khatabook, a digital ledger platform.
Info Edge was also a major investor in online education platform Meritnation but recently it sold some of its shares to Aakash Educational for ₹50crore. It was estimated that Info Edge had invested ₹150crore in Meritnation before the transaction. In December 2017, the company had also invested in ed-tech start-up Univariety.
Info Edge was founded in 1995 by Sanjeev Bikhchandani who is also the co-founder of Ashoka University.
