Facebook partners with venture capital fund that’s invested in MakeMyTrip, BookMyShow and Paytm

Facebook on Thursday announced a collaboration with SAIF Partners, one of the leading venture capital funds, to enable the growth of small and medium businesses (SMBs) and entrepreneurship in the country.

The partnership is a part of Facebook’s “VC Brand Incubator Programme launched in June for building the ecosystem for SMB growth in the country by providing young businesses with timely skilling and guidance.

“The programme has so far been tied up with three venture capital funds – Sauce.VC, Fireside Ventures and now SAIF Partners – thus mentoring more than 70 brands at various stages of their growth journey,” the company said in a statement.

Businesses from across industries and at different stages of their growth journey have experienced measurable and positive business impact as a result of this programme, and with SAIF Partners on board we now have an opportunity to deliver an even larger impact,” said Archana Vohra, Director, Small and Medium Businesses at Facebook India.

SAIF Partners has been an early-stage investor in brands such as MakeMyTrip, BookMyShow, Justdial.com, and Paytm.

“We are thrilled to partner with Facebook to create a platform for young consumer companies to learn from the Facebook leadership as well as each other about the best practices and the playbook for scaling on Facebook’s family of apps,” said Deepak Gaur, Managing Director, SAIF Partners.

Twenty-four brands associated with SAIF Partners have now become a part of Facebook’s VC Brand Incubator Programme, like Chaayos, Spinny, Airblack, Peebuddy, Skoodoo, and TheMomsCo.

“Facebook and Instagram are important platforms for us to communicate with our audience. The session with Facebook experts helped us to understand the new rules for winning on these new-age mediums,” said Raghav Verma, Co-Founder of Chaayos.

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