Saama Capital raises $31 mn under third VC fund
Photo Credit: Mukul Mudgal/VCCircle

Indian venture capital firm Saama Capital has raised $30.3 million (Rs 205 crore) under its third fund, as per a filing with the US Securities and Exchange Commission. It has set a target of raising around $50 million in the fund, the filing shows.

Saama Capital, which counts two Indian tech unicorns among its past and present portfolio firms—Paytm and Snapdeal, disclosed that it got commitment for the corpus as of April and indicated that it expects the fundraising process to take more than a year.

The first tranche of the targeted amount was raised from a set of 25 investors, it said.

The Economic Times, which first reported the development, however, said citing an unnamed person that the firm was eyeing as much as $80 million in the fund.

Saama Capital has invested in around half a dozen firms over the past yearincluding reinvestments in a few existing portfolio firms. It backed names such as beverages firm RAW Pressery, tea chain Chai Point and Veeba Foods, besides some tech ventures like EazyDiner, Bluestone, Lendingkart and Naaptol.

It also clocked an exit activity from Snapdeal.

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