India, Feb. 6 -- Internet company Info Edge has obtained the board's nod to invest up to INR 1,000 Cr in IE Venture Investment Fund III, a scheme to be launched by Karkardooma Trust, a SEBI-registered Category II Alternative Investment Fund (AIF).

In an exchange filing, Info Edge said the investment is in line with the company's strategy on external financial investments that are focused on value creation in medium to long-term prospects.

Info Edge will invest up to INR 1,000 Cr into the AIF either "directly or through wholly-owned subsidiaries, subject to approval of SEBI and shareholders of the company," the filing said.

Smartweb Internet Services, a subsidiary of Info Edge, will act as the sponsor and investor manager of the said tr...