Venture capital firm SAIF Partners is raising its third India-dedicated fund of $350 million, according to a filing made with US markets regulator Securities and Exchange Commission, reported ET.
SAIF Partners is a venture and growth capital fund invested in helping Asia’s exceptional companies grow from concept to IPO. It has been investing in India since 2001. The firm specializes in private equity and venture capital across Asia with a focus on areas including IT-ITeS, industrials, financial services, Internet, consumer products and mobile, among others.
The new fund will make SAIF Partners one of the largest venture funds in India after Sequoia Capital, Accel India and Nexus Venture Partners all of which have over $1 billion in assets under management.
With over 60 companies in its portfolio, SAIF counts online travel firm MakeMyTrip, local search platform Just Dial Ltd and mobile commerce platform Paytm among its successful investments. It recently exited MakeMyTrip after divesting its remaining 11 per cent stake in a series of transactions since October, reportedly raking in about $400 million on its $25 million investment as per the report by Deal Street Asia.
SAIF Partners has invested in many platforms like BookMyShow, Bluestar, HomeShop18, Firstcry, Network18 and more.