Sunday, June 23

Tag: Startup Fund

Info Edge Ventures gets $50 Million Commitment from Temasek
BUSINESS

Info Edge Ventures gets $50 Million Commitment from Temasek

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 del...
Most SoftBank Vision Fund investors want to join second fund: Masayoshi Son
Entrepreneurs Talk

Most SoftBank Vision Fund investors want to join second fund: Masayoshi Son

Most investors in SoftBank's $100 billion Vision Fund want to join the group's forthcoming second fund, founder and Chief Executive Masayoshi Son said on Wednesday, adding discussions would begin soon.  The entrepreneur said in May a second fund would launch "soon", with SoftBank likely to be the only investor initially. Raising further funds is essential if Son is to extend his spending spree on late-stage startups around the world. Investors in the first fund include the sovereign wealth funds of Saudi Arabia and Abu Dhabi, Apple Inc and Foxconn, formally known as Hon Hai Precision Industry Co Ltd. The Vision Fund will ramp up its employee numbers to 1,000 from 400 currently, Son said at the group's annual general meeting. The fund's head, Rajeev Misra, said he sees i...
Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector
FUNDING

Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector

GUWAHATI: Oil India Limited (OIL) has set up an OIL Startup fund of Rs 50 crore to encourage new "out of the box" ideas related to the oil and gas sector, particularly in the Northeast. The oil exploration major's chairman-cum-managing director Utpal Bora today said in a press conference that the initiative was in line with the Centre's 'Start-up India' initiative. "The OIL Start-Up fund is to encourage students, young entrepreneurs and institutions to come out with out of the box ideas for the benefit of the oil and gas sector that is contributing enormously to the growth of the economy," Bora said. The initiative was to create an ecosystem that was conducive for growth of start-ups in the oil and gas sector, which has a huge scope for application of technology-enabled ideas, he ...