Sequoia Capital Raises $530 Million to Continue Its Funding of India Startups.
One of the global venture capital firms to majorly invest within India, Sequoia Capital, has recently announced that it has managed to raise a total of $530 million investment for its Indian-focused fund to expand its own investments within India and Southeast Asia.
“The two trends that we have been seeing is that mobile Internet is growing, and Indian start-ups are increasingly becoming global. We want to tap both these opportunities,” said Shailendra Singh, managing director Sequoia Capital.
The scope of the Sequoia Capital India fund has been increased to include to not only directly invest into India. bit parts of Southeast Asia as well.
“In the last few years, we focused on helping companies expand in South East Asia, but in this phase, we will do direct investments in companies there too,” said Singh.
These funds will mainly be invested towards the technology, consumer and healthcare sectors, with special focus on mobile, online payments, big data, software-as-a-service (Saas), cloud computing, enterprise software, medical and lifystyle related healthcare starups, stated Singh.
Sequoia Capital has been using the funds to invest towards India for the pas eight years, and has made seed, venture and growth investment ranging from a few hundred thousand dollars to over $50 million. Its portfolio for India, which contains a total of 27 companies, these include Capiliary Technologies Pvt. Ltd, which developes customer engagement software, Druva Software Pvt. ltd, which creates cloud back-up solutions; cellphone manufacturer Micromax Technologies Pvt. Ltd; and business listing service providers Just Dail Pvt. Ltd and Zomato Media Pvt. Ltd.
“The company is looking to invest in many more seed rounds in India in the years to come”, said Singh.
For this to become possible, Sequoia Capital India advisers have assembled an internal team of 10 executives to help founders of portfolio companies with support form the legal, fiance, marketing, human resources, information technology, business development and engineering divisions.
“This hands-on execution help is a key differentiator in Sequoia Capital’s strategy in India [as opposed to other Indian VCs],” said Singh.
With the recent fund-raise, the total capital committed to Sequoia Capital’s India funds is total at $2 billion.