Info Edge’s board has approved a commitment of up to ₹250 Cr to a newly launched alternative investment fund (AIF), B8 Fund I
The company said its board approved entering into a contribution agreement with the fund which is a scheme
The commitment will be made by Smartweb Internet Services Limited, a subsidiary of Info Edge under B8 Trust
Info Edge’s board has approved a commitment of up to ₹250 Cr to a newly launched alternative investment fund (AIF), B8 Fund I.
In an exchange filing, the company said its board approved entering into a contribution agreement with the fund which is a scheme under B8 Trust. The trust is registered with SEBI as a Category II AIF.
The commitment will be made by Smartweb Internet Services Limited, a subsidiary of Info Edge. Smartweb will act as the sponsor and investment manager of the fund and its schemes.
The total commitment under the agreement will be up to ₹250 Cr, with actual drawdowns happening over the life of the fund, depending on investment opportunities and market conditions.
The company said that the fund’s objective is to generate long-term growth for contributors and back growth-stage, tech-enabled companies in India or those primarily focused on India.
The life of the scheme is eight years from the first closing, with a possible extension of up to two years subject to the consent of two-thirds of the contributors.
Info Edge, which is one of the earliest investors in the Indian startup ecosystem, continues to expand its investment playbook for early and growth-stage technology startups. Late last year, the company approved an investment of ₹100 Cr in its wholly owned subsidiary, Redstart Labs, to meet its capital needs and fund potential investments.
Redstart invests in startups across deeptech and SaaS sectors. It counts startups like Unbox Robotics, BrainSight AI, Skylark Drones, ePlaneCo, and CynL in its portfolio.
The ₹100 Cr infusion marked a shift from an earlier plan approved in October 2024, when Info Edge had authorised ₹30 Cr for Redstart through compulsorily convertible debentures. The latest equity investment significantly increased the capital available for deployment.
Over the past few years, the company has backed several AI-focussed startups. It counts the likes of Pascal AI Labs, Zwayam Digital, and Attentive.ai in its portfolio.
Last year, Info Edge also announced its plan for a ₹1,000 Cr venture fund for investments in AI, SaaS and deeptech startups.
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