SAIF Partners to invest Rs 80 crore in Senco Gold

SAIF Partners, a venture capital and private equity firm, today announced an equity infusion of Rs 80 crore in Kolkata-based jewellery retailer Senco Gold.

"The capital infusion will enable Senco Gold to accelerate its growth, and establish a pan-India footprint," SAIF Partners said in a statement.

Senco Gold has 59 stores across the country and aims to take the art of handcrafted jewellery in gold, diamond, platinum and modern jewellery to consumers across the country.

Commenting on the development, SAIF Partners Managing Director Vishal Sood said: "We have been impressed with Senco Gold's stellar growth, the depth of the company's network in East India, and the strong vision.

"We are very excited about our partnership with Senco Gold and look forward to our journey together in creating a truly world class jewellery retail brand," he said.

Senco Gold Executive Director Suvankar Sen said that this investment will give a boost to the company's operations and increase the pace of progress.

SAIF Partners, founded in 2001, manages over $1 billion of investments in India in sectors like Internet, technology, ITeS/KPO, consumer products and services, financial services and healthcare.