Singapore-based Temasek Holdings Announces $162.5 Million Investment In Three Info Edge-Backed Funds
- ByStartupStory | April 29, 2022
Singapore state investment company Temasek Holdings has announced an investment of $162.5 million (approx INR 1,245 crore) in 3 funds owned and managed by Info Edge (India) Ltd.
“MacRitchie Investments Pte. Ltd, an indirect wholly-owned subsidiary of Temasek Holdings Private Limited, has committed nearly 50 percent of the total corpus of each scheme in partnership with the company, sponsored through Smartweb Internet Services Limited,” Info Edge noted in a regulatory filing on stock exchanges.
Smartweb Internet Services is a wholly-owned subsidiary of Info Edge. The company previously onboarded Temasek Holdings as an anchor for its debut venture fund in 2020.
The Temasek arm will be investing around Rs 383 crore/USD 50 Million in the second scheme of Info Edge Venture Fund (IEVF), following on of fund I; $75 million (INR 575 crore) in Info Edge Capital’s IE Venture Investment Fund II and USD 37.5 million (INR 287 cr) in Capital 2B Fund I, which is currently awaiting regulatory approval.
The remaining 50 percent of the contribution will come from Info Edge, directly or through its wholly-owned subsidiaries, and is further subject to shareholder approval that is currently underway and ending on May 21.
The first fund, which raised approximately Rs 750 crore (USD 100 million), has made investments in Fanclash, an e-sports community engagement platform, DotPe, a payments firm set up by PayU India co-founder; Truemeds, a telehealth platform, and Qyuki, a venture co-founded by music composer AR Rahman.
Mumbai-based Info Edge, which started the job site Naukri.com in 1997, operates a plethora of internet properties, such as real estate portal 99acres.com, education services portal Shiksha, matrimonial website Jeevansathi among others.
Info Edge made headlines when it became an early shareholder in recently-gone-public food delivery aggregator Zomato and unicorn insurance aggregator PolicyBazaar.
Recently, Info Edge acquired a 76% stake in Bengaluru-based dating application Aisle for Rs 91 crore.
Info Edge employs nearly 5,000 people and operates through 64 offices across 45 cities in India.Info edge has overseas offices in Abu Dhabi, Qatar, Bahrain, Dubai, and Riyadh to focus on the Middle East market.
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