Mumbai: Sequoia Capital Beyond the current weakness in investments in new companies in the region, the venture capital firm said on Tuesday, has raised $2.85 billion to fund Indian and Southeast Asian startups.
Fundraising is Sequoia’s largest fundraiser to date for India and Southeast Asia.
The money raised includes $850 million in Sequoia’s first fund dedicated to Southeast Asia, the Silicon Valley company said in a statement. Sequoia has been investing in Southeast Asian startups since 2015 through a Common India Fund.
The remaining $2 billion has been raised in the Indian Enterprise and Development Fund.
Including the newly raised funds, the company’s Indian arm, Sequoia India, has committed over $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 sector in 2020.
“This fundraising, which comes at a time when the market is starting to cool off after a very long bull run, signals our deep commitment to the region,” Sequoia said.
Funding of Indian startups has slowed since last year’s record funding of $35 billion. Amid the global tech rout, companies are struggling to raise capital and some have had to lay off employees.
Sequoia’s successful investments in the sector include hotelier Oyo, listed food delivery firm Zomato and two companies that have merged: ride-hailing app Gojek and ecommerce firm Tokopedia. The combined business is Goto, Indonesia’s largest listed company.
Fundraising is Sequoia’s largest fundraiser to date for India and Southeast Asia.
The money raised includes $850 million in Sequoia’s first fund dedicated to Southeast Asia, the Silicon Valley company said in a statement. Sequoia has been investing in Southeast Asian startups since 2015 through a Common India Fund.
The remaining $2 billion has been raised in the Indian Enterprise and Development Fund.
Including the newly raised funds, the company’s Indian arm, Sequoia India, has committed over $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 sector in 2020.
“This fundraising, which comes at a time when the market is starting to cool off after a very long bull run, signals our deep commitment to the region,” Sequoia said.
Funding of Indian startups has slowed since last year’s record funding of $35 billion. Amid the global tech rout, companies are struggling to raise capital and some have had to lay off employees.
Sequoia’s successful investments in the sector include hotelier Oyo, listed food delivery firm Zomato and two companies that have merged: ride-hailing app Gojek and ecommerce firm Tokopedia. The combined business is Goto, Indonesia’s largest listed company.