Singapore’s Temasek invests $51m in Indian early-stage VC Info Edge Ventures

Info Edge Ventures, an early-stage venture capital fund, has raised 3.75 billion rupees (US$51 million) from Singapore-based investment firm Temasek. The new investment will be a part of the Indian VC’s 7.5 billion rupee (US$100 million) fund that is focused on tech startups.

Sanjeev Bikhchandani, founder and executive vice chairman of Info Edge / Photo credit: Info Edge

The fund was launched earlier this year in a bid to invest in technology and technology-enabled businesses built out of India.

Info Edge Ventures has backed food delivery platform Zomato and is the first institutional investor for insurtech firm Policybazaar. It has also invested in nine early-stage startups from the ecommerce, digital media, fintech, edtech, healthtech, gaming, and software-as-a-service (SaaS) sectors.

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“We have a deep and long-standing relationship with Temasek, having partnered with them at Info Edge, as well as for investments such as Policybazaar and Zomato,” said Sanjeev Bikhchandani, founder and executive vice chairman of Info Edge.

The funds raised from Temasek will be used to further explore India-focused opportunities that are enabled by technology.

Info Edge Ventures has provided capital for Univariety, a startup that operates an online marketplace for career counseling, guidance, and college-planning services for students and educational institutions.

Edtech firm Coding Ninjas also raised US$5.2 million in a series A funding round from Info Edge India in February.

Currency converted from Indian rupee to US dollar: US$1 = 73.52 rupee.