Info Edge, a prominent player in the Indian startup ecosystem, has announced a significant investment to support the growth of tech startups. The company’s board has approved an investment of up to ₹250 Cr in B8 Fund I, a newly launched alternative investment fund (AIF) focused on backing tech-enabled companies in India.
Smartweb Internet Services Limited, a subsidiary of Info Edge, will serve as the sponsor and investment manager of the fund and its schemes. The commitment will be utilized over the fund’s lifespan, based on market conditions and investment opportunities.
The primary objective of the fund is to foster long-term growth for contributors by supporting growth-stage tech startups in India or those with a primary focus on the Indian market. The scheme’s duration is set at eight years from the initial closing, extendable up to two years with the majority consent of contributors.
Info Edge’s investment in B8 Fund I aligns with its continued support for early and growth-stage technology startups. Previously, the company allocated ₹100 Cr to its subsidiary, Redstart Labs, to meet capital requirements and finance potential investments. Redstart Labs focuses on deeptech and SaaS sectors and has already invested in promising startups like Unbox Robotics, BrainSight AI, and Skylark Drones.
Source: Inc42 Media