Info Edge shareholders approve Rs 1,000 crore investment in its VC fund

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Shareholders of Info Edge (India) Ltd, the parent of Naukri.com, have approved a proposal to invest up to Rs 1,000 crore in Info Edge Ventures Fund III, paving the way for the Noida-based firm to ramp up its startup investments.

Smartweb Internet Services Ltd, a wholly owned subsidiary of Info Edge, will act as both the investment manager and sponsor of the fund.

“The members of the company have approved the resolution with requisite majority through remote e-voting/postal ballot,” Info Edge said in a stock exchange filing on Saturday. A total of…



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Info Edge shareholders approve Rs 1,000 crore investment in its VC fund


Shareholders of Info Edge (India) Ltd, the parent of Naukri.com, have approved a proposal to invest up to Rs 1,000 crore in Info Edge Ventures Fund III, paving the way for the Noida-based firm to ramp up its startup investments.

Smartweb Internet Services Ltd, a wholly owned subsidiary of Info Edge, will act as both the investment manager and sponsor of the fund.

“The members of the company have approved the resolution with requisite majority through remote e-voting/postal ballot,” Info Edge said in a stock exchange filing on Saturday. A total of…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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