After 2 years of closing its previous India specific fund, VC firm SAIF Partners is again looking to raise an India specific fund of about ₹2500 crores ($400 Million). The latest fund will increase the value of assets under management to over $1 billion.
ET quoted a few sources close to the development and mentioned that the process has already been started to raise the funds. The fund raise will establish SAIF partners as one of the biggest institutional investors in India after Sequoia Capital, Accel India and Nexus Venture Partners. All of these VC firms already have over $1 Billion in assets under management.
SAIF Partners is one of the earliest investors in Paytm. The proposed investment of Softbank in Paytm will increase the value of SAIF’s stake in Paytm to over ₹13,000 crores ($2 Billion). It had invested around ₹450 crores in Paytm.
SAIF Partners seems to have established a niche dominance in Indian market. Reportedly, it has earned over ₹2500 crores ($400 Million) from its investment in MakeMyTrip, which grew to over 16 times.
With offices in Gurugram and Bangalore, SAIF invests majority of its funds in early stage startups. Approx 20% of its investments are in later stages where it holds the stake for a longer period of time. SAIF Partners fund is led by Ravi Adusumalli and has 5 more partners including Deepak Gaur, Mukul Arora, Vivek Mathur, Vishal Sood and Alok Goel.
(With Inputs from EC, Cover Image Credits : DealStreetAsia)