SAIF Partners looking to raise $350mn for its third India-focused fund

Venture capital and growth equity investment firm, SAIF Partners is reportedly looking to raise its third India-focused fund of $350 million, and sixth overall, according to a filing made with US market regulator, Securities and Exchange Commission.

In 2015, SAIF Partners had closed its second India-focused investment fund at $350 million. The latest fund will take SAIF Partners assets under management in India to over $1 billion.

The VC firm has been investing in India at various stages starting from seed with a primary focus on consumer products, IT-ITeS, Internet, mobile, education, healthcare and financial services among others.

With over 60 companies in its portfolio, SAIF counts online travel firm MakeMyTrip, local search platform Just Dial and mobile commerce platform Paytm among its successful investments. SAIF Partners reportedly exited from MakeMyTrip with 16 times return on its investment in it.