Singaporean government-owned investment firm Temasek has committed a total of over $162m to three funds owned by India-headquartered classified listings operator Info Edge, VCCircle reported yesterday, citing regulatory filings.
Info Edge was already a frequent corporate venturer when it launched a venture capital arm dubbed InfoEdge Ventures at the start of 2020 with $14m and a targeted close of $100m.
Temasek vehicle MacRitchie Investments is providing half of the capital for each fund, including $50m for the second iteration of its Info Edge Venture Fund, following a $51.5m contribution to its predecessor in late 2020.
The other deals consist of a $75m allocation to IE Venture Investment Fund II, which is managed by Info Edge subsidiary Info Edge Capital, and $37.5m for its Capital 2B Fund I.
Info Edge’s core property is online recruitment platform Naukri, but it also runs online real estate listings service 99acres, wedding services marketplace Jeevansathi.com and educational services portal Shiksha.com.
The company’s most prominent investment has been Zomato, the operator of an online restaurant listings and food delivery service that floated in a $1.25bn initial public offering in July 2021. Info Edge had owned a majority stake as recently as 2015.
Recent deals for InfoEdge Ventures include its participation in e-commerce logistics provider Shiprocket’s $185m series E round in December 2021 and a $30m round for recurring revenue finance provider that it co-led last week.
