Tiger Global looks to invest in five SaaS firms in May

Tiger Global looks to invest in five SaaS firms in May

  • Tiger Global Management is likely to invest in as many as five SaaS (software-as-a-service) companies in India in May including Locus, a logistics management software company, two people familiar with the development said.
  • The New York-based hedge fund, one of the early backers of India's consumer internet sector, has invested in expense management software Fyle, facilities management software startup Facilio, connected workforce platform Innovapptive and mobile marketing startup Clevertap since November.
  • Tiger Global's latest fund Tiger Global Private Investment Partners XI of $3.75 billion will focus on consumer internet, cloud computing, industry software and direct-to-consumer companies in India, China and the US.
  • After closing the fund in October, Tiger Global started giving term sheets to several SaaS companies in India-a departure from its theme in India almost a decade ago, when the hedge fund first backed online retailer Flipkart .

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