Bengaluru-based Venture Capital firm, Saama Capital has closed its fourth fund with a corpus of $100 Mn.
According to SEC filing, the first sale for the fund took place on March 28, 2018. 59 LPs invested in the company’s fourth fund.
Saama Capital team previously worked together at SVB India Capital Partners fund that started in 2006. They became an independent firm and Saama Capital was founded in 2012 by Ash Nilani and Suresh Shanmugham.
WIth its fourth fund, the company is expected to continue to focus on consumer brands, software and fintech segment, while writing larger cheques to its bets on early-stage investments. This will also allow the company to invest in the winning products of its portfolio.
Even though the company could have raised more than $100 Mn, the limits on the fund are a part of publicly announced belief of the company. Lilani had said, “People like the discipline we have on size. We have always stayed in the $50-75 Mn range and we have publicly told our LPs we will never go over $100 Mn of fund ever.”
As the company continues its venture into new startups with its fourth fund, the company has backed about 10 companies between 2014 and 2016, including cold-pressed juice maker Raw Pressery, sauce and condiments startup Veeba Foods, online lender LendingKart, and artificial intelligence-driven travel assistant startup Mezi.