Sequoia raises $2.85 billion in India, Southeast Asia funds – Occasions of India

MUMBAI: Sequoia Capital has raised $2.85 billion to fund Indian and Southeast Asian startups, the enterprise capital agency mentioned on Tuesday, wanting past present weak point in funding in new corporations within the area.
The fundraising is Sequoia’s largest to date for India and Southeast Asia.
Cash raised included $850 million in Sequoia’s first fund devoted to Southeast Asia, the Silicon Valley firm mentioned in an announcement. Sequoia has been investing in Southeast Asian startups since 2015 from a typical India fund.
The remaining $2 billion has been raised in Indian enterprise and development funds.
Together with the newly raised cash, the corporate’s Indian unit, Sequoia India, has dedicated greater than $8 billion to India and Southeast Asia over the previous 15 years, based on knowledge from Enterprise Intelligence. Sequoia India final raised $1.35 billion for the area in 2020.
“This fundraise, which comes at a time when markets are beginning to cool after a really lengthy bull run, indicators our deep dedication to the area,” Sequoia mentioned.
Funding of Indian startups has slowed since a file $35 billion in fundraising final yr. Amid a world tech route, corporations have been struggling to lift capital and a few have needed to hearth staff.
Sequoia’s profitable investments within the area embrace hotelier Oyo, listed meals supply agency Zomato and two corporations which have merged: ride-hailing app Gojek and ecommerce agency Tokopedia. The mixed enterprise, GoTo, is Indonesia’s largest listed firm.

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