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SAIF Partners closes its $400 Mn fund after 6th investment

Saif Partners have been investing in Indian startups for quite some time now. The firm is well-know for having financed Paytm and Swiggy from an early stage. They have also backed Justdial, MakeMyTrip, Meesho, ShareChat, Unacademy and Urban Company and have just closed their $400 million fund. The VC firm has now renamed itself as Elevation Capital.

Recent investments made by SAIF Partners

The VC firm has invested in 6 different Indian startups from different sectors. These sectors include IT, edtech, fintech, Consumer brands and more. The startups that received investment from the firm are  Yoga Bar, SaaS-based startup Zomentum, Camp K12 and Jodo. With these latest investments and closing of the 7th fund, SAIF Partners have also taken $1 billion of assets under management.

SAIF Partners

Though the VC firm mainly focuses on early-stage startups, it does invest in public Market transaction too. In fact, 20% of its fund is dedicated to that. The VC firm has been investing in Indian Startups since 2001 and has mastered the art. They specialise in IT, financial services, industrials, Internet, ITes, consumer product, and mobile. At present they hold a stake in over 60 companies and have their main offices in Bengaluru and Gurgaon.

Changing the firm’s name to Elevation Fund

Sharing his thoughts on renaming the firm, Ravi Adusumalli, managing partner, said, “While SAIF enjoyed a great amount of equity in the ecosystem, the name itself didn’t communicate what we stand for. It was, at best, an acronym. So, as we looked to raise a new fund, we thought that it’s a good time where we should think about a new name and communicate what we stand for, and our investment ethos a lot better”.

Future of Indian Startups

Image Source: Inventiva

With so many investors and firms showing interest in Indian startups, its no doubt that we have a bright future ahead. In the past year, Sequoia has invested over a billion dollars in Indian startups while Accel and Lightspeed are at the $500 mn and $200 Mn marks respectively. Even SAIF Partners themselves have made some serious investments and soon plans to launch a new fund.

Some other notable investors in the Indian Startups are Better Capital, Matrix Partners, Y Combinator, Let’s Venture and more.

With startups recovering from the COVID pandemic and many new investors coming up to support them, it will be interesting to see the future of startups in India. What are your thoughts on the same? Do let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Read: Rare Planet raises Rs 3.5Cr in pre-Series A led by Uni-M Ventures



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