Info Edge Ventures, an early-stage venture capital fund backed by India online classifieds company Info Edge, has raised US$50 million from Singapore sovereign wealth fund Temasek Holdings.
This brings the total corpus of Info Edge Ventures to US$100 million, according to a press release.
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Launched in January 2020, Info Edge Ventures focuses on India-based early-stage tech startups with the potential to scale into a large and sustainable business.
Since its establishment, the fund has already invested in nine startups in e-commerce, digital media, fintech, edutech, healthtech, gaming and SaaS. These companies are DotPe, Bulbul, Qyuki, Fanclash, Truemeds, Rusk Media, FirstHive, Polymerize, and Udayy.
“With Info Edge and Temasek as limited partners (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 at Info Edge Ventures.
“This decade shall be an exciting time for startups as the pace of technology adoption increases dramatically in India,” added Amit Behl, Partner at 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 companies, including Shopkirana, Bijnis, Shipsy, Ustraa, Gramophone, and Adda247.
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This follows recent investments by Temasek in China foodtech fund Bits x Bites and EV Growth’s US$250 million Indonesian-focused fund last year.
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