Sequoia Capital: Sequoia Raises $2.85 Billion in India and Southeast Asia | Business news from India

MUMBAI: Sequoia Capital has raised $2.85 billion to fund Indian and Southeast Asian startups, the venture capital firm said Tuesday, looking beyond the current investment weakness in new businesses in the region.
The fundraiser is Sequoia’s largest ever for India and Southeast Asia.
Funds raised included $850 million in Sequoia’s first Southeast Asia fund, the Silicon Valley company said in a statement. Sequoia has been investing in Southeast Asian startups from a joint Indian fund since 2015.
The remaining $2 billion was raised in Indian venture and growth funds.
Including the newly raised money, the company’s Indian unit, Sequoia India, has committed more than $8 billion to India and Southeast Asia over the past 15 years, according to data from Venture Intelligence. Sequoia India last raised $1.35 billion for the region in 2020.
“This fundraiser, coming at a time when markets are beginning to cool off after a very long bull run, signals our deep commitment to the region,” Sequoia said.
Funding for Indian startups has slowed since raising a record $35 billion last year. In the midst of a global technology crisis, companies are struggling to raise capital and some have had to lay off employees.
Sequoia’s successful investments in the region include hotelier Oyo, publicly traded delivery service Zomato and two companies that have merged: ride-hailing app Gojek and e-commerce company Tokopedia. The combined company, GoTo, is Indonesia’s largest publicly traded company.

Sybil Alvarez

"Incurable gamer. Infuriatingly humble coffee specialist. Professional music advocate."

Leave a Reply

Your email address will not be published.