Sequoia Capital to invest $920M Fund in Indian Start-ups
With a clear motive of investing in Indian startups as well as South East Asian companies, Silicon-based VC firm, Sequoia Capital has raised a mammoth $920 million fund.BY Indian Retailer Bureau | Feb 02, 2016 | comments ( 0 ) |
With a clear motive of investing in Indian startups as well as South East Asian companies, Silicon-based VC firm, Sequoia Capital has raised a mammoth $920 million fund. This has been the biggest raise by any VC firm for India-specific investments, consolidating Sequoia‟s total assets under management to more than $3 billion.
The firm has backed companies like Practo , OYO Rooms, , Grofers, Craftsvilla, FreeCharge (acquired by Snapdeal) and Roadrunnr among others. Till now It has invested in more than 100 companies since 2006.
In April 2015, Sequoia added another $210 million to its existing $530 million India-focused Fund IV. Last year, the firm was planning to raise its fifth fund and the amount was estimated at around $800 million.
In January this year, Silicon Valley-based venture capital firm, Storm Ventures launched a $10 million fund to make investment in Indian SaaS startups.
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