From early bets in Zomato & PolicyBazaar to building a 36% IRR portfolio — Info Edge emerges as India’s top venture capital powerhouse
Key Highlights
- Info Edge has been named India’s most successful venture investor, largely due to its early and soaring returns from Zomato and PolicyBazaar.
- Over ~15 years, it invested ~₹3,959.16 crore; the fair market value (FMV) of its holdings now far exceeds that.
- Its stake in Zomato (12.40%) is valued around ₹38,350 crore; its ~19.63% holding in PolicyBazaar is worth ~₹15,133 crore.
- Combined market cap of both companies exceeds ₹3.8 lakh crore.
- Info Edge invested early in ~111 companies across sectors such as edtech, B2B commerce, travel, grooming, and more.
- The company splits its investment journey into four phases:
1. 2007–2012 — foundational bets (led to Zomato & PB)
2. 2012–2015 — cautious expansion
3. 2016–2019 — accumulation & follow‑on
4. 2019 onward — setting up formal VC funds (IEVF, InfoEdge Capital, Capital 2B)
Strategic Journey & Impact
Early Vision & Entry
- Info Edge founder Sanjeev Bikhchandani (called “India’s Warren Buffett”) ventured into investing around 2007, with a vision beyond core internet businesses.
- His chance encounter with the internet decades ago spawned Naukri.com — leading to a broader digital ecosystem.
Monumental Bets & Returns
- Zomato and PolicyBazaar remain Info Edge’s flagship wins: investments of ₹483.78 crore and ₹591.40 crore, respectively, now valued at tens of thousands of crores.
- These successes helped anchor Info Edge’s image as a marquee startup investor in India.
Diversification & Scaling
- Beyond its flagship bets, Info Edge backed startups such as Adda247, Shipsy, Ustra, Zingbus, ixigo, and more.
- Many of these later secured funding from major global investors (e.g. WestBridge, A91, Peak XV).
- Since 2019, it formalised its investing in fund structures (AIFs) under names like IEVF and Capital 2B.
Financial Performance
- Over all investment vintages, Info Edge has clocked an estimated 36% gross IRR.
- These returns highlight its ability not just to pick winners, but to manage across cycles and sectors.
