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Tiger Global looks to invest in five SaaS firms in May

Wilbert Doyle by Wilbert Doyle
May 6, 2019
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Tiger Global’s cutting-edge fund Tiger Global Private Investment Partners XI of $3.Seventy-five billion will focus on patron internet, cloud computing
Globally, the fund has invested in organizations along with China’s Udesk, that is an employer platform for shrewd customer service

Tiger Global Management is probably to invest in as many as 5 SaaS (software program-as-a-provider) businesses in India in May inclusive of Locus, a logistics control software program employer, two people acquainted with the development said.

The New York-primarily based hedge fund, one of the early backers of India’s consumer internet sector, has invested in price control software program Fyle, centers control software startup Facilio, related personnel platform Innovapptive and cell marketing startup Clevertap due to the fact that November.

“They will compare SaaS bets at all stages—now not simply early but even series B and past,” stated one of the humans referred to above, each of whom spoke below the condition of anonymity. “While a few of them are sub-$20 million cheques, there are 1-2 other SaaS agencies Tiger Global is talking to for Series B and C financing.” Queries emailed to Tiger Global Management and Locus remained unanswered until press time.

Tiger Global’s today’s fund Tiger Global Private Investment Partners XI of $three.Seventy-five billion will cognizance on customer net, cloud computing, industry software program and direct-to-consumer organizations in India, China, and the US.

After ultimate the fund in October, Tiger Global started giving time period sheets to several SaaS companies in India—a departure from its subject in India almost a decade ago, whilst the hedge fund first subsidized online store Flipkart.

“They had bogged down their investments for numerous years in India, but now with their new fund, investments in India have picked up the pace,” stated one of the men and women referred to above acquainted with Tiger Global’s approach, requesting anonymity. “Now that there are incredible SaaS groups in India, Tiger is bullish on them.”

Globally, the fund has invested in groups inclusive of China’s Udesk, which is a business enterprise platform for intelligent customer support. It has also invested in US-based Green Bits, a company that makes point-of-sale software program for hashish shops.

“We will see extra international traders again Indian SaaS agencies as it is rising as a strong subject matter over the past eight-12 months,” stated Karan Sharma, government director for era funding banking at Avendus Capital.

Wilbert Doyle

Wilbert Doyle

Introvert. Total beeraholic. Food advocate. Thinker. Coffee geek. Hardcore bacon buff. Travel guru. Uniquely-equipped for researching saliva in Libya. Had a brief career training yogurt in Pensacola, FL. Spent 2002-2007 merchandising bagpipes for no pay. Spent 2002-2009 building toy trucks in Hanford, CA. Had moderate success buying and selling tar in Fort Walton Beach, FL. Spent 2001-2007 developing strategies for bathtub gin in Naples, FL.

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