Info Edge is raising $100 million for a VC fund, the new fund will see Info Edge and its wholly owned subsidiary commiting Rs 350 crore, while the remaining amount is expected to be raised from outside investors or limited partners (LPs).
Info Edge had got an alternative investment fund (AIF) licence under category II, with initial plans to contribute Rs 100 crore to IE Venture Fund I. But those plans have now been scaled up, according to its latest filing with the exchanges.
"We believe there would be more opportunities to invest in certain strategic areas of our core operating business and other areas of expansion. This could include M&A activities and strategic stakes in certain areas of interest," said Info Edge