Info Edge commits $115M to third venture fund
Consumer internet company Info Edge India on Thursday said it has committed Rs 1,000 crore ($115 million) from Info Edge to IE Venture Investment Fund III, the company’s BSE filings showed.
Info Edge’s venture funds are a collaboration with Temasek, Singapore’s sovereign wealth fund, and the latest fund is estimated to exceed Rs 2,000 crore ($230 million). The fund will primarily focus on investing in tech-driven Indian startups.
The alternate Investment Fund (AIF) largely allocates initial investments in companies, while the rest is reserved for follow-on funding in those ventures. Info Edge follows a hybrid investment model, where some investments are made directly from its balance sheet, while larger, structured venture bets are taken through these dedicated funds.
In 2020, it formalised its investment activities by launching Info Edge Ventures, a $100 million fund co-sponsored by Temasek. The fund was structured to back early-stage startups in India across consumer internet, fintech, edtech, and software businesses.
Info Edge’s most notable investment is in Zomato, where it acquired a stake for around Rs 4.7 crore. Over time, Info Edge continued to invest in multiple rounds, holding around 18.6% of shares in Zomato at the time of its IPO in 2021. The stake sale during the public listing earned Info Edge over Rs 3,000 crore, making it one of the most successful startup investments in Indian venture history.
Beyond Zomato, Info Edge has funded several high-growth startups, including Policybazaar, ShopKirana, Gramophone, DotPe, Adda247, NoBroker, and Univariety. It has deployed over Rs 2,000 crore ($250 million) in various startups, often taking minority stakes while leveraging its operational expertise to support portfolio companies.
Despite some write-offs—such as its investments in 4B Networks and ShopKirana—the firm remains active in the venture space.
Quarterly results
Info Edge India reported a steady financial performance in its latest quarter, with strong contributions from emerging business verticals, which are helping reduce its historical reliance on Naukri.com.
While the recruitment segment remains a key revenue driver, businesses like real estate (99acres), matrimonial services (Jeevansathi), and education (Shiksha), have gained momentum.
The company’s total revenue for the quarter stood at Rs 675.7 crore, reflecting a 9.6% annual growth. However, revenue from recruitment services (Naukri.com) grew at a slower pace of 6.9% year-on-year, highlighting the increasing role of other business segments in the company’s overall financial performance.
Among the emerging verticals, 99acres saw a 17.6% annual growth, fueled by a recovery in India’s real estate sector and rising adoption of digital platforms. Shiksha recorded a 15.8% growth, driven by increased engagement from students and institutions, and Jeevansathi, which struggled in the past, showed signs of stabilisation.
Profitability remained strong, with EBITDA (excluding startup investments) at Rs 204.6 crore, though it saw a slight annual decline due to increased investments in growth initiatives. The net profit stood at Rs 135.2 crore, reflecting a 14.7% decrease year-on-year, primarily due to lower gains from financial investments and higher operational expenses.
