SAIF launches fourth India VC fund

The target corpus, confirmed in a regulatory filing, represents a step up from SAIF India’s three predecessors, each of which closed at $350 million in 2011, 2015, and 2017. The firm, which spun out from Hong Kong-based SAIF Partners in 2011, has previously counted its parent organization as an LP.

The new vehicle, stylized SAIF Partners India VII, will follow a similar remit to past vintages, investing from in the seed to growth stages in categories, including IT, industrial, financial services, internet, consumer products and services, and mobile. Historically, SAIF India has targeted both public and private companies.

Portfolio companies include Paytm, a mobile payments provider that raised $1 billion last year at a valuation of $16 billion, grocery delivery platform Swiggy, which is valued at $1.6 billion, and education platform Unacademy, which is valued at $1.4 billion. Last month, SAIF India joined a $40 million round, billed as a pre-Series E, for social networking start-up ShareChat.

Standout exits include Just Dial, an online mobile listings provider that went public in 2013. SAIF India made a more than 15x return on a $12 million investment in the company. This coincided roughly with the sale of IT services outsourcer CSS Corporation to Partners Group in a deal worth $270 million.

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• Topics
• South Asia
• Fundraising
• Venture
• India
• SAIF Partners