Sequoia Capital raises a record $2.85 billion to invest in Indian startups and other projects

14 Jun 2022 , 10:20 AM

Sequoia India and Southeast Asia, a venture capital firm, has secured $2.85 billion in a single tranche, the most ever raised by any venture capital fund, to invest in startups and other initiatives in the region.

From the funds raised, a total of $2 billion are committed to India, with the remaining $850 million dedicated to Southeast Asia. Sequoia’s total committed capital in India and Southeast Asia now stands at USD 9 billion, according to SEC filings and previous fundraising announcements.

The firm stated “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 $850 million Southeast Asian fund – the firm’s first dedicated fund for that region,” in an SEC filing.

Sequoia Capital has enjoyed a great run in recent years, with 9 IPOs and USD 4 billion in exits from companies it has backed in the last 18 months. Zomato, Unacademy, Pinelabs, Byjus, and Razorpay are among the firm’s 36 unicorns in the region.

After the United States and China, India became the world’s third-largest startup ecosystem last year. Southeast Asia, meantime, is on track to have a digital economy worth USD 1 trillion by 2030. Sequoia has been active in India for 16 years and Southeast Asia for ten years.

With this round of funding, Sequoia India will continue to work with the next generation of Indian entrepreneurs to establish long-lasting businesses at the seed, Series A, and growth stages. It will also continue to invest in efforts to interact with entrepreneurs, governments, co-investors, and partners across the ecosystem.