Saif Partners has planned to make its exit from JustDial by next month, according to reports.
Ravi Adusumalli, managing partner at Saif Partners, has already made his exit from the company’s board and has confirmed it to the Bombay Stock Exchange.
Saif Partners which had first invested Rs 55 crore in JustDial, followed by more rounds along with Tiger Global, Sequoia Capital and SAP Ventures, has received 12x returns to the venture firm.
The firm had sold 40% of its 19.72% stake in the public offering in May.
The investment firm plans to offer a 5x return from its India investments made from fund II in 2005-07. Altogether, the venture firm plans to return $200 million to its investors by end of this year.
The firm had started investing in India from 2012 and had earlier invested in MakeMyTrip, Sify Technologies and IL&FS Investsmart.So far, the company has invested $600 million across 32 firms.