New Delhi: Sequoia Capital announced early this week that its Limited Partners would be committing a total of USD 1.35 Billion towards the Indian startup ecosystem, in the form of two new Sequoia India funds.
The VC firm expressed its optimism in the region and as such would continue its support of ventures in India and SEA. The added resources will allow organisation to support startups as they progress through the various stages, and provide backing, whether it be seed, venture or growth funding.
Sequoia’s managing director Shailendra Singh expressed that the firm’s limited partners have collectively invested USD 825 million for the growth fund, while a total of USD 525 million was allocated to a separate venture fund. “Sequoia India now operates seed, venture, and growth funds, a structure that allows Sequoia to remain a relevant partner for founders at all stages of their journey,” Singh wrote in the post.
“We are excited about the depth of opportunities in this region, which is undergoing a massive technology-led transformation,” he said. “The start-up ecosystem in both India and Southeast Asia has come a very long way in the last few years; the market gets deeper and the crop of founders, and their achievements, becomes more impressive each year.”
We are deeply grateful to Sequoia’s LPs, who have committed $1.35B to two new Sequoia India venture and growth funds. The region’s #startup ecosystem is at a fork in the road. We believe there is an opportunity to make different choices for the future. https://t.co/x9BZ17rtsj
— Sequoia_India (@Sequoia_India) July 6, 2020