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Saama Capital raises $57 million as final close of its third fund

Venture capital firm Saama Capital has raised $57 million in funding as a final close of its third venture capital fund, reports Vccircle. The firm had earlier raised around $31 million for the fund from 25 investors in May last year. At the time it said that it would look to raised $60-$80 million in total for the round.

Saama will be looking to invest between $2-$5 million in Indian startups in Series A rounds and has reserved around 100-150% for follow-on rounds. It is also looking to co-invest in early-stage ventures. As of now, the firm has made several investments in India, including Mobilia, Chai Point, Naaptol, SKS Microfinance, Games2win, Hotelogix, etc.

As part of its third fund, the VC firm has already invested in six companies including 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.

Recent startup funds:

Last month Jungle Ventures announced the final close of its second fund at $100 million, while Accel Partners raised $450 million for its 5th India fund. Last year, multiple firms launched funds which would be used for internet, technology, electronics and IOT among others: YourNest launched a $45 million fund startups in technology, Ideaspring Capital launched a $18.7 million fund, Entrepreneurship & Venture Capital (EVC) announced a $50 million fund for Indian startups, IDG Ventures India launched an India-focused tech fund with a target amount of $200 million and Nokia Growth Partners announced a new $350 million fund IV to invest in IoT companies in the US, Europe, India and China.

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