Sequoia raises $2.85 bn to fund start-ups, other ventures in India

Venture capital firm Sequoia India and Southeast Asia has raised $2.85 billion - the highest ever in one tranche by any venture capital fund - to fund startups and other ventures in the region, the company said in a statement.

Of the funds raised, $2 billion is dedicated to India across two funds, and the remaining $850 million funds is for Southeast Asia.

As per the SEC filings and earlier fundraising announcements, this now takes Sequoia’s total committed capital in India and South East Asia to $9 billion over the past 16 years.

“Sequoia India and Sequoia Southeast Asia have collectively raised $2.85 billion across a new set of funds, including India venture and growth funds and a $850 million Southeast Asian fund the firm’s first dedicated fund for that region,” the statement said.

This is the largest fund raised by any VC firm in the region, it added.

Sequoia has had a stellar run in the last few years, witnessing 9 IPOs of companies it funded and USD 4 billion of exits in the last 18 months.

The firm has 36 unicorns in the region, including the likes of Zomato, Unacademy, Pinelabs, Byjus and Razorpay.

“This fundraise comes at a time when markets are starting to cool after a very long bull run, and is a signal of the firm’s deep commitment to the region’s startup ecosystem that continues to show promise,” the statement said. “India and Southeast Asia have both grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer incomes.”

Sequoia has been present in India for the past 16 years and in Southeast Asia for ten.

Of the funds raised, $2 bn is for India across two funds, and the balance $850 mn funds is for SE Asia