Info Edge shareholders approve Rs 1,000 Cr investment in third venture fund

Info Edge shareholders have overwhelmingly approved a significant investment of up to ₹1,000 crore into IE Venture Investment Fund III. The decision garnered 99.9995% support, underscoring strong confidence in the company's venture capital strategy. This fund is specifically designed to target tech-driven Indian startups. Operating in partnership with Temasek, Info Edge's latest venture fund is expected to exceed ₹2,000 crore ($230 million). Info Edge has a successful track record, notably investing ₹4.7 crore in Zomato and later realizing over ₹3,000 crore from its stake sale during Zomato's 2021 IPO. The company has deployed over ₹2,000 crore ($250 million) in various high-growth startups, typically acquiring minority stakes.