Shareholders of Info Edge (India) Ltd, the company behind job portal Naukri.com, have approved a plan to invest up to ₹1,000 crore in their third venture fund. The infusion will allow the Noida-based firm to increase its support for early-stage startups, bolstering its strategy to expand its presence in India's growing venture capital ecosystem.
"In connection with the above, we hereby inform that the members of the company have approved the aforesaid resolution with the required majority through the remote e-voting postal ballot process as set out in the Postal Ballot Notice, and the approval is deemed to have been received on the last date specified by the company for remote e-voting, i.e. Saturday, 24 May 2025," Info Edge said in a stock exchange filing on Saturday.
A total of 1,274 members voted, with 1,271 valid votes considered.
Smartweb Internet Services Ltd, a fully owned subsidiary of Info Edge, will manage and sponsor the fund's investments.
According to co-founder Sanjeev Bikhchandani's post on X (formerly Twitter), the proposal was approved with 99.9995 percent of votes.
"The results of the Info Edge shareholders' postal ballot are in. The proposal to invest up to ₹1,000 crores in Info Edge Ventures Fund 3 received 99.9995% approval. "Thank you for your confidence in our investment abilities, shareholders," Bikhchandani wrote on X on Sunday.
Info Edge was a key early investor in India's startup landscape, backing companies such as Zomato (now Eternal) and PB Fintech. In a letter to shareholders, founder Bikhchandani reported that Info Edge's combined holdings in these firms were valued at approximately ₹31,500 crore ($3.7 billion) on March 31, 2025.
