wordpress blog stats
Connect with us

Hi, what are you looking for?

Info Edge Venture Funds raises ₹375 crore from Temasek

Info Edge Venture Fund has raised ₹375 crore from MacRitchie Investments, a subsidiary of Temasek Holdings, according to a stock exchange filing. The venture fund was set up in January this year as an alternative investment fund (AIF), with a corpus of ₹750 crore, for investments in early stage technology companies in India. Under the Securities and Exchange Board of India's regulations, a category-II AIF can raise money from high net-worth individuals and foreign investors to invest in unlisted companies. Usually, venture capital funds are registered as category-I AIFs which can invest in startups or early stage ventures. A category-II registration, allows the Info Edge Venture Fund to operate as a private equity or debt financier. The fund raise by Info Edge Venture Fund follows recent criticism by Sanjeev Bikhchandani, the company's founder and vice chairman, on the Indian startup environment. According to Bikhchandani, the Indian economy loses out on tax revenues, market value and intellectual property of startups, when they 'flip' abroad or create a foreign holding company. “Basically institutionalised transfer of wealth away from India while living off the Indian market and Indian labour somewhat like the days of the Company rule,” he said, likening the environment to the days of the East India Company. However, Pallav Narang, partner at CNK RK & Co Chartered Accountants in an interview with MediaNama said that the decision to flip abroad is driven less by tax considerations but more by access to an ecosystem of institutions that exist abroad, particularly in…

Please subscribe/login to read the full story.
Written By

Reports on banking, payments, fintech and crypto-curencies. Additional reporting on media regulations, data protection and other areas.

Free Reads

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

News

According to a statement, the executive body of the European Union had also sought internal documents on the risk assessments and mitigation measures for...

News

The newly launched partially open-sourced LLM Grok-1 can be commercially used but not trademarked.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ