Venture capital firm Saama Capital has raised around $31 million for its third venture capital fund, a company spokesperson told MediaNama. The new fund has 25 investors, according to an SEC filing. The total offering amount is $50 million and the total amount sold is $30.33 million. The company expects to raise $60-$80 million in the ongoing round, according to The Economic Times. According to Ash Lilani, Managing Partner at Saama Capital, the firm is looking to invest between $2-$5 million in each company in Series A round and reserved around 100-150% for follow-on rounds. It is also looking to co-invest in early-stage ventures. The company is expected to close the entire fund by the third quarter of this year. Till now, the firm has made several investments in India, which includes Mobilia, Chai Point, Naaptol, SKS Microfinance, Games2win, Hotelogix, etc. As part of its third fund, Saama has already invested in six companies. They include LendingKart - a platform for small businesses loans, Eazydiner – a restaurant reservation platform, Veeba Foods - a manufacturer of specialty food ingredients, Jifflenow - cloud-based enterprise meeting scheduling solutions for B2B events, Raw Pressery – a cold pressed juice company and one undisclosed company. "With this fund, our focus so far has been on software as a service (SaaS) companies and food companies focused on supply chain. We are also watching the financial technology space in the business-to-consumer segment," Lilani said. He said the largest investments made by Saama have been in two lending companies focused on small and medium enterprises…
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