India, Feb. 26 -- Info Edge's board has approved a commitment of up to Rs.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 Rs.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...