InfoEdge Ventures, the investment arm of Info Edge and one of the early backers of unicorns like Zomato and PolicyBazaar, is preparing for its next phase of growth. With a fresh anchor commitment of Rs 1,000 crore from Info Edge, the venture capital firm is gearing up to raise a third fund targeting $180–200 million (Rs 1,500–1,700 crore).
In a candid conversation with Moneycontrol, partners Chinmaya Sharma and Kitty Agarwal reflected on their investing journey and what lies ahead. Their approach has remained consistent—spotting high-potential startups early, staying focused on core technology, and keeping India’s evolving digital landscape, especially “Bharat”, at the center.
From Zomato to Billion-Dollar Bets
Reflecting on the early days, Sharma and Agarwal admitted that even they didn’t foresee the massive success of platforms like Zomato and PolicyBazaar. “We didn’t know they would become so big,” said Kitty Agarwal, highlighting the unpredictable but thrilling nature of early-stage investing.
The journey has taught them the importance of backing visionary founders and focusing on solving India-specific problems with tech. And that is exactly what the firm aims to double down on with its third fund.
While the first fund in 2019 had a $100 million base and another $100 million as a greenshoe option, the second fund in 2022 closed at $167 million. Now, with momentum and experience on their side, InfoEdge Ventures is preparing to make even bolder moves.
Small Funds, Big Impact
One of the central themes in the discussion was why small, focused funds often outperform. According to Sharma, it’s about agility, speed, and conviction. Smaller funds can take bigger risks early on and work closely with founders to shape outcomes.
“It’s easier to bet early, guide closely, and course-correct when necessary,” Sharma explained. This nimbleness has allowed InfoEdge Ventures to get in on the ground floor of transformative ideas that later turned into massive companies.
What’s Next: AI, SaaS, and Beyond
With this new fund, the focus will remain sharp on early-stage, tech-first startups. Key sectors of interest include:
Artificial Intelligence (AI)
Software-as-a-Service (SaaS)
B2B platforms
Climate tech and sustainability
Cybersecurity and defence tech
However, it’s not just about hot buzzwords. Sharma and Agarwal emphasized their attention to quick commerce and “Bharat”—the term used to describe the next wave of internet users from Tier 2 and Tier 3 cities.
These emerging markets, according to them, are where the next generational companies will be built. “We’re seeing founders from smaller cities solve problems with a deep understanding of their customers. That’s where the magic is happening,” noted Agarwal.
The Power of Bharat and Quick Commerce
Quick commerce—a sector that enables super-fast delivery of goods—is another area where InfoEdge Ventures sees long-term potential. The demand for faster service, particularly in smaller towns where traditional retail options are limited, is pushing startups to innovate rapidly.
Meanwhile, the “Bharat” strategy isn’t just a buzzword. It reflects a deep belief in inclusive growth, with tech enabling access and opportunity for millions beyond India’s metros.
“Bharat is where the growth story will play out next. We are backing founders who understand that deeply,” Agarwal explained.
Strategic Backing and Global Confidence
While Temasek, a global investor, had played a major role in contributing nearly half the capital in past funds, InfoEdge Ventures has remained tight-lipped about their involvement in this round, saying talks are ongoing.
What’s clear, though, is that the confidence from Info Edge itself—one of India’s oldest and most successful internet companies—is a strong vote of support. With Rs 1,000 crore committed as anchor capital, the new fund already has a solid foundation.
Looking Ahead
As InfoEdge Ventures gets ready for its third innings, the team is laser-focused on finding and nurturing the next generation of Indian tech giants. From early-stage risk-taking to long-term commitment, their playbook is built on trust, agility, and deep conviction.
“The biggest companies of tomorrow will come from ideas that seem too small today,” said Sharma.
With a proven track record and a bold new fund, InfoEdge Ventures is poised to write the next chapter in India’s startup story—one that reaches deeper, grows faster, and belongs to everyone.
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