SAIF Partners Secures $350M for a New Fund for Indian Startups

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To back a new set of startups in the country, venture capital firm SAIF Partners has raised $350 million for a new India-focused fund. The firm is looking to make investments in technology focused businesses.

As per an ET report, the SAIF Partners has raised the fund from 27 investors. It mainly invests in early to growth stage companies across sectors like mobile, internet, consumer products, industrials, IT and financial services. The firm has backed mobile payments firm Paytm and online ticket booking portal Bookmyshow. It had also announced investments in property search platform NoBroker, Industrial e-tailing platform Industrybuying and small business lender Aye Finance.

In 2014, the firm had deployed Rs 900 crore in 17 investments.

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