New Delhi, Dec 18th, 2020: Info Edge Ventures said China based Temasek committed about USD 50 million to the fund.
Info Edge Ventures is a $100 early-stage venture capital fund backed by Info Edge, parent company of Naukri.com. The fund was launched in January this year.
“Temasek, a global investment company headquartered in Singapore, has committed about USD 50 million to the fund, which will continue to explore India-focused opportunities enabled by technology,” a statement said.
Since its establishment, the fund has already invested in nine early stage startups in e-commerce, digital media, fintech, edtech, healthtech, gaming and SaaS segments.
These companies include DotPe, Bulbul, Qyuki, Fanclash, Truemeds, Rusk Media, FirstHive, Polymerize and Udayy.
“We are delighted to be partnering with Temasek at the Info Edge Venture Fund. We have a deep and long-standing relationship with Temasek, having partnered with them at Info Edge, as well as for investments such as Policybazaar and Zomato,” said Sanjeev Bikhchandani, founder and executive vice-chairman of Info Edge.
He added that the two share a common vision and values and look forward to backing great entrepreneurs in India together.
“With Info Edge and Temasek as LPs, we have patient capital and a global network to back tech entrepreneurs who are building innovative businesses. We look forward to leveraging their decades of experience in building large technology companies that have fundamentally changed industries,” said Kitty Agarwal, partner, Info Edge Ventures.
“This decade shall be an exciting time for startups as the pace of technology adoption increases dramatically in India.
“As a founder-first firm, Info Edge has been steadfast in supporting its portfolio companies, and at Info Edge Ventures the yardstick we would like to be measured by is the growth and the success of our portfolio companies. We look forward to partnering with talented founders and like-minded investors to create world class businesses,” said Amit Behl, Partner, Info Edge Ventures.
In addition to backing market leaders like Zomato and Policybazaar as the first institutional investor, the Info Edge Ventures team in its earlier avatar had also invested in category-leading technology companies including Shopkirana, Bijnis, Shipsy and Ustraa.