Temasek to anchor Info Edge's debut India VC fund
Info Edge India, a holding company for Indian jobs portal Naukri, has secured an anchor LP commitment of INR3.7 billion ($51 million) from Temasek Holdings for its debut VC fund.
Info Edge, the Mumbai-listed operator of a range of online classified services in addition to Naukri, has committed at least INR3.5 billion from its balance sheet. The fund is targeting INR7.5 billion for an early-stage technology mandate.
As of June, INR408 million had been deployed across four investments. These include online pharmacy Truemeds, influencer marketing company Qyuki, e-sports platform Fanclash, and financial technology provider DotPe.
Info Edge has made several direct start-up investments since its inception in 1995, including insurance comparison portal Policybazaar and food delivery platform Zomato, both of which are also backed by Temasek.
Info Edge’s revenue increased by 15% during the 2020 financial year to INR12.7 billion, which was primarily generated by Naukri subscription fees. Net profit fell from INR6 billion to INR2.4 billion during the year, with the company citing a number of investments by its online dating service Jeevansathi.
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