SAIF Partners, an early backer of unicorns like Paytm and Swiggy plans to raise $400 Mn for its new India-dedicated fund. These plans come a little over two years after it closed a previous fund and will take its assets under management to over $1 Bn. The new fund will be larger than its previous three funds, which have consistently been $350 Mn.
SAIF has closed about six investments this year across sectors like consumer brands, software, education technology and financial technology. These companies include energy bar maker Yoga Bar, SaaS-based startup Zomentum, Gurugram-based edtech startup Camp K12 and Jodo, which allows users to pay school fees in instalments.
While early-stage venture bets are its main focus, SAIF also invests about 20% of the corpus in public market transactions, where it holds a stake in companies for a long period. The firm has a portfolio of over 60 companies, with offices in Gurgaon and Bengaluru.