SAIF Partners Launch $400 Million for New India Fund

Venture and growth capital firm SAIF Partners has filed with the Securities and Exchange Commission (SEC) to raise $400 million for its new India fund. In India, SAIF has actively backed various unicorns, like mobile payments major Paytm, ed-tech platform Unacademy, and online food delivery platform Swiggy.

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Despite economic limitations and challenges created due to the pandemic, the new fund is about 15% larger as SAIF has consistently invested about $350 million in the last three funding rounds. The India fund is led by managing partner Ravi Adusumalli.

The firm primarily invests in three areas: consumer internet and brands, financial services, and B2B technology businesses. SAIF had played a pivotal role in ushering India’s growth story by investing in series A and series B stage of startups. The company has a track record of focusing on long term investment and continuing its support to the startup throughout the rising period.

Mayank Khanduja, Managing Director of SAIF Partners India said short-term economic speed bumps created due to COVID does not affect the bright future of the Indian startup ecosystem. The new investment by SAIF conveys its belief in the ability of Indian startups to leverage opportunities created by the pandemic. SAIF is a trusted VC firm, and its ability to scout companies and ecosystems for landmark investments has opened up the horizon for Indian startup space.

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