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 1,274 members participated in the vote, of which 1,271 valid votes were considered.
The proposal was cleared with 99.9995% votes in favour, cofounder Sanjeev Bikhchandani wrote in a post on X (formerly Twitter).
Info Edge has been an early investor in the Indian startup ecosystem, with bets on companies such as Zomato (now Eternal) and PB Fintech (Policybazaar).
Discover the stories of your interest
Earlier this month, Bikhchandani said in a letter to shareholders that Info Edge’s stakes in Zomato and PB Fintech were together valued at Rs 31,500 crore (approx. $3.7 billion) as of March 31, 2025.
Investment snapshot:
- Total capital deployed across startups: Rs 3,959 crore (approx. $467 million)
- Fair market value of investments: Rs 36,855 crore (approx. $4.3 billion)
- Gross internal rate of return (IRR): Over 36% annually
- Number of companies backed: 111
- Startups with co-investors/follow-on rounds: 76
