Date:23/04/2007 URL: http://www.thehindubusinessline.com/2007/04/23/stories/2007042302460200.htm

Back SAIF invests in One97 Comm

Our Bureau

Hyderabad, April 22

SAIF Partners, a SoftBank arm, has infused series A funding into the Delhi-based One97 Communications. Alongside, SVB Financial group participated in the funding with minority contribution. One97 offers short code SMS service, 3030 and value-added services. With this investment, SAIF Partners has extended its portfolio to more than 10 companies in India, which include National Stock Exchange, IL&FS Investmart, Makemytrip.com, HomeShop18, JustDial and SlashSupport amongst others. The Principal, SAIF Partners, Mr Vibhor Mehra, in a statement said: "One97 has an interesting transaction driven business model, backed by a very passionate founder. We will be leveraging our relationships with value-added service providers portfolio companies and telcos across the globe, particularly in China, to create a broader footprint for One97." SAIF Partners was established with commitments from Cisco and Softbank Corporation of Japan, and has about 60 investments in the region. One97 provides value-added services for telecom