Home Alternative Investments temasek: Temasek to anchor InfoEdge funds, to put half of corpus

temasek: Temasek to anchor InfoEdge funds, to put half of corpus


Mumbai: The Singapore government’s private equity fund Temasek will anchor the three alternative investment funds managed by the InfoEdge Group by bringing in 50% of the total corpus, with the rest being funded by the company.

InfoEdge, an early backer of food delivery app Zomato and online insurance aggregator PolicyBazaar, takes initial bets in companies and backs it with more capital in subsequent rounds.

InfoEdge said in a stock exchange filing that it had received a commitment from MacRitchie Investments Pte Ltd, an indirect wholly owned subsidiary of Temasek Holdings (Private) Ltd, to put in about 50% of the total corpus of each scheme in partnership with the company.

According to the company, InfoEdge Venture Fund’s follow-on scheme of $100 million will be 50% funded by Temasek.

Similarly, for InfoEdge Capital’s IE Venture Investment Fund II of $150 million, $75 million will come from Temasek.

And, for the company’s proposed new Alternative Investment Fund scheme – Capital 2B, with a targeted corpus of $75 million, $37.5 million will be from Temasek.

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“This is to further inform that the remaining 50% of the contribution (will come) from the company, directly or through its wholly owned subsidiaries,” InfoEdge said.

All the three funds are housed under Smartweb Internet Services Ltd, a wholly owned subsidiary of InfoEdge.

Although Temasek has been investing in growth and late-stage Indian companies for almost two decades, it is now trying to back businesses early on in their lifecycle.

Through these funds under the InfoEdge umbrella, it is looking to take smaller bets in high growth startups, sources said.

InfoEdge has been one of the most active venture capital investors in India.

In the financial year ended March 31, the company invested in more than three dozen startups totalling Rs 850 crore.

Some of these prominent investments include Geniemode, Ixigo, Shiprocket, Airblack, Truemeds, DotPe, Shipsy, Bulbul, and Qyuki.

In recent years, Temasek has started betting on technology startups and counts companies such as CropIn, Lenskart, ShareChat and UpGrad. Its overall India exposure stands at more than $15 billion as on date.

Last year, Temasek committed $500 million into Leapfrog Investments, the growth private equity fund to anchor all its future funds.

In 2020, Temasek Holdings came on board as an anchor for Info Edge’s debut venture fund.

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