Per recent reports VC firm SAIF partners has raised USD 350 Mn India specific fund to diversify its portfolio. This is the VC firms third India-dedicated fund. Following its diverse investment strategy, around 20 % of the fund will go into backing established public companies. The remaining corpus will be invested in early-state and late-stage startups in a variety of domains. The fund will be led by General Partner Ravi Adusumalli, along with managing directors Deepak Gaur, Mukul Arora, Vishal Sood, Alok Goel, and CFO Vivek Mathur.
With this new funding SAIF Partners’ total assets under management (AUM) has reached the USD 1 Bn mark.
In 2011, the firm’s first USD 350 Mn India-specific fund was launched followed by a second one from 27 investors in March 2015. Deepak Gaur commented on the development saying:
“It is a conscious choice to cap it at $350 Mn. It allows us the flexibility to do very early stage deals and also larger cheques. The fund will have the same strategy. We will continue to do seed, series-A, growth stage and public-listed. It is flexible. In our last fund, we were not very active in series-B, in terms of cheque sizes above $15 Mn. We are hopeful in this fund we will do much more.”
Per MD Alok Goel, the sectors that the India-centric fund will focus on are Internet, healthcare, education, technology, financial services, enterprise SaaS, retail and consumer brands. He added:
“Earlier, in consumer internet, there were X of Y models, where there was empty space and it was more about grabbing that land. Now we are looking at newer opportunities which are not being done somewhere else. However, the pace will be slower in terms of number of companies.”
SAIF Partners currently has offices in Bengaluru and Gurugram. The VC firm has been investing in the country since 2001 and specializes in private equity and venture capital in a number of different sectors like IT, information technology enabled services (ITES), industrials, financial services, Internet, consumer product, and mobile.
Its investment portfolio includes over 60 companies, including Paytm, Network18, HomeShop18, BookMyShow, etc. The firm has recently invested in online food delivery startup Swiggy. The firm is also looking to make USD 300 Mn-USD 400 Mn by partially selling its stake in Paytm to Japanese investment giant Softbank.