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Former FreeCharge CEO Alok Goel joins Saif Partners as managing director

PE firm Saif Partners has appointed Alok Goel, former CEO of FreeCharge as
managing director. According to an Economic Times report, Goel will look after
early stage investing at the firm which has $4 billion of assets under
management.

PE firm Saif Partners has appointed Alok Goel, former CEO of FreeCharge as
managing director. According to an Economic Times report, Goel will look after
early stage investing at the firm which has $4 billion of assets under
management.

“I’ll
be looking at how we do more early stage deals,” Goel was quoted in the
report as saying. “Beyond a point of time, money becomes a
commodity and people with operations background can be helpful as investors
look to differentiate.”

The
two companies, redBus and FreeCharge that Goel previously worked with were
acquired in deals billed as the largest in the domestic consumer internet
business at the time.
redBus was acquired for over $100 million by
South African media conglomerate Naspers in 2013. FreeCharge was acquired by
Snapdeal for an estimated $400 million in cash and stock.

“Having
built and scaled up successful internet companies, his experience will be very
vital to our firm,” Ravi Adusumalli, managing partner at Saif Partners, told
the Economic Times. Saif Partners is looking to make more early stage deals in
the range of Rs 6-10 crore,

Goel will
focus on companies that are building solutions in areas such as mobile and
software as a service (SaaS).

The
PE firm has been investing in Indian companies since 2001, making it one of the
earliest in the country. Its portfolio includes ecommerce firm Paytm, which is
now valued at over $3.7 billion, online ticket booking site BookMyShow and
JustDial, one of the few venture backed technology companies to go public in
India.

Earlier
this year, Saif also raised $350 million for an India-focused fund to ramp up
investments in technology focused businesses. 

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