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SAIF Partners raises $350 million for new India-focused fund

SAIF Partners

Venture capital firm SAIF Partners has raised $350 million for a new India-focused fund from 27 investors, reports ET Tech. The report mentions that they are likely use the funds to invest in technology-focused startups.

SAIF, which has invested in companies like Paytm*, MakeMyTrip and JustDial among others, invests in early stage startups and established business across sectors like mobile, Internet, financial services, consumer products, IT/ITeS and industrials. The firm also invests seed capital in mobile and tech startups. This year SAIF has already invested in a number of startups including, digital SME finance company Capital Float, MSME lender Aye Finance, peer-to-peer property listings platform NoBroker and B2B e-commerce company industrybuying.com. The VC firm claims to have over $1 billion assets under management in India and it has invested in over 50 companies so far. A complete list of the portfolio companies.

Companies SAIF invested in 2014

December 2014: $1 million seed funding in Bangalore-based mobile peer-to-peer marketplace for buying & selling used cars Zoomo.

November 2014: Rs 18 crore in Series A funding in Doctor search & appointment booking platform Qikwell.

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July 2014: Rs.10 crore in Noida-based marketplace for travel agents TravelTriangle.com.

June 2014: Rs 150 crore in Bigtree Entertainment which operates the online ticketing venture BookMyShow, along with existing investors Accel Partners and Network18.

May 2014: $2 million in Mumbai-based online test preparation service Toppr, along with Helion Venture Partners.

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