Tiger Global Management could invest in as many as five SaaS (software-as-a-service) companies in India in May, including Locus, a logistics management software company, two sources told Mint.
“While a few of them are sub-USD 20 million cheques, there are 1-2 other SaaS companies Tiger Global is talking to for Series B and C financing,” one of the sources told Mint.
The New York-based hedge fund 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 USD 3.75 billion will focus on consumer internet, cloud computing, industry software and direct-to-consumer companies in India, China and the US.
The fund has also invested in China’s Udesk, an enterprise platform for intelligent customer service, and US-based Green Bits, a firm that makes point-of-sale software for cannabis retailers.