Venture Capital firm, SAIF Partners has raised $350 Mn fund in a fresh round to invest in Indian startups as well as brick-and-mortar companies. With the new funding, the firm has become one of the largest venture funds in India after Sequoia Capital, Accel India and Nexus Venture Partners. And the total assets under management (AUM) has clocked the $1 Bn mark.
As per the media report, SAIF Partners will start investing from this fund by early next year.
Deepak Gaur, MD said to ET, “We will continue to do seed, series-A, growth stage and public-listed. Public (listed) will be around 15-20% of the fund. It is flexible. In our last fund, we were not very active in Series-B, in terms of cheque sizes above $15 million.”
Funds are typically structured as 10-year entities, after which venture capital firms have to return the fund to the original investors, which comprise pension funds, endowment funds and other investment institutions in the US, Europe and Asia.
Gaur further said, “We are hopeful in this fund we will do much more. We will also become more active in the newer sectors where we have not been very active, such as enterprise, SaaS, education, healthcare and consumer brands.”
SAIF Partners was founded in 2001. Since its inception, SAIF Partners has emerged as a leading private equity and venture capital firm that provides growth capital to companies in Asia.
With offices in Bengaluru and Gurugram, the venture capital firm has been investing in the country and currently manages over $4 billion in the capital. The venture capital firm specializes in different sectors including IT, information technology enabled services (ITES), industrials, financial services, Internet, consumer product, and mobile.
The VC firm has invested in more than 100 companies. At present, the VC firm manages Paytm, Firstcry, Urban Ladder, BookMyShow and Swiggy in Internet space among others.