Info Edge Venture Fund (IEVF), the corporate venturing fund formed by India-listed online job portal operator Info Edge, has raised Rs 3.8bn ($51.5m) for its inaugural fund from Singaporean state-owned investment firm Temasek, according to TechCircle.
The amount represents half of the fund’s $100m total ceiling and adds to the $14m Info Edge put up at its inception in January 2020. Temasek made the contribution through indirect subsidiary MacRitchie Investments, according to a regulatory filing cited by TechCircle.
IEVF invests in early-stage rounds for consumer technology startups. Its first batch of deals have included influencer shopping recommendation app Bulbul, digital entertainment provider Qyuki and offline-to-online commerce platform DotPe.
The fund strengthens Info Edge’s corporate venturing activity following a string of direct investments in companies such as food delivery service Zomato, which raised funding at a $3.6bn post-money valuation last month.