Sequoia Raises File .85 Bn To Fund Indian Startups, Different Ventures

Sequoia Raises File $2.85 Bn To Fund Indian Startups, Different Ventures

Sequoia raises report $2.85 bn to fund Indian startups, different ventures

Sequoia India and Southeast Asia, a enterprise capital agency, has raised USD 2.85 billion in a single tranche, essentially the most ever obtained by any enterprise capital fund, to put money into startups and different tasks within the area, based on a launch.

Two funds totaling USD 2 billion are dedicated to India, with the remaining USD 850 million devoted to Southeast Asia.

Sequoia’s whole dedicated capital in India and Southeast Asia now stands at USD 9 billion, based on SEC filings and final fundraising bulletins.

“Sequoia India and Sequoia Southeast Asia have raised USD 2.85 billion throughout a brand new set of funds, together with India enterprise and development funds, and a USD 850 million Southeast Asian fund, the agency’s first devoted fund for the realm,” based on the announcement.

It was said that that is the very best cash raised by any VC agency within the area.

Sequoia Capital has loved an amazing run in recent times, with 9 IPOs and USD 4 billion in exits from corporations it has backed within the final 18 months.

Zomato, Unacademy, Pinelabs, Byjus, and Razorpay are a number of the agency’s 36 unicorns within the area.

“This funding comes at a time when markets are starting to chill following a really prolonged bull run and is a sign of the agency’s profound dedication to the area’s promising startup ecosystem,” based on the assertion. “Due to the acceleration of digital adoption and rising shopper incomes, India and Southeast Asia have each expanded considerably within the current decade.”

After the US and China, India turned the world’s third-largest startup ecosystem final 12 months. Southeast Asia is on observe to have a digital financial system price USD 1 trillion by 2030.

Sequoia has been present in India for 16 years and Southeast Asia for ten years.

“The enterprise has 36 unicorns in its portfolio and has collaborated with over 400 entrepreneurs throughout many sectors, phases, and market cycles. 9 IPOs have been introduced by the VC firm between 2021 and 2022, together with Freshworks and Zomato.

The company claims that its actions within the area assist to develop and preserve the ecosystem in methods apart from finance.

“Surge, a 16-week program for early-stage entrepreneurs that started in 2019, has grown to 246 founders from 112 startups in additional than 15 industries. Sequoia Spark, a fellowship and mentorship program for feminine founders, and Sequoia Construct, a program for growth-stage companies striving to develop sustainably, have been each launched final 12 months, “It was emphasised.

Sequoia India will use the funds raised on this spherical to proceed working with the following era of Indian entrepreneurs to construct long-term companies on the seed, Sequence A, and development phases. It’s going to proceed to put money into efforts to work together with entrepreneurs, governments, co-investors, and companions throughout the ecosystem.

“India’s market is characterised by rising shopper energy, favorable guidelines, and a excessive expertise density. As we speak’s entrepreneurs are utilizing expertise to sort out a variety of issues with the intention of making worth for thousands and thousands of individuals in India and around the globe. Within the coming decade, many vital enterprises with regional or worldwide footprints are projected to emerge from this area,” added the assertion.

“India’s market is characterised by rising shopper energy, favorable guidelines, and a excessive expertise density. As we speak’s entrepreneurs are utilizing expertise to sort out a variety of issues with the intention of making worth for thousands and thousands of individuals in India and around the globe. Within the coming decade, many vital enterprises with regional or worldwide footprints are projected to emerge from this area,” added the assertion.

About Sequoia Capital

Sequoia Capital is a enterprise capital agency primarily based in the US. The agency is predicated in Menlo Park, California, and primarily serves the expertise sector. In India, it was essentially the most lively VC fund firm in 2019.
Along with the US, Sequoia manages funding funds targeted on India and Southeast Asia, Israel, and China. Menlo Park, Singapore, Bengaluru, Mumbai, New Delhi, Hong Kong, Shanghai, Beijing, London, and Tel Aviv are a number of the agency’s areas.
Apple, Cisco, Google, LinkedIn, WhatsApp, Zoom, PayPal, Reddit, Instagram, and Tumblr are a number of the firm’s notable profitable investments.

India

Historical past

Sequoia Capital was based in 1972 in Menlo Park, California, by Don Valentine, at a time when the state’s enterprise capital business was simply getting established.

Sequoia launched its first enterprise capital fund in 1974 and made an early funding in Atari the next 12 months. In 1978, Sequoia Capital was one of many first traders in Apple. Doug Leone and Michael Moritz, companions, took over because the agency’s leaders in 1996.

Sequoia created a devoted funding fund for Israeli entrepreneurs in 1999. Sequoia Capital China was based in 2005, and Sequoia Capital India was based subsequently.

Moritz stepped away from the agency’s day-to-day operations in 2012. Leone was promoted to the place of International Managing Associate. From 2012 till 2017, Jim Goetz oversaw Sequoia’s US operations earlier than being outdated by Roelof Botha.

Sequoia employed Jess Lee in 2016, making her the agency’s first feminine investing companion in the US.

Sequoia introduced the hiring of Luciana Lixandru as its first European companion in March 2020.

Sequoia said in October 2021 that it could introduce a brand new fund construction for its US and European companies that might permit it to remain related to corporations after they went public.

India

Sequoia’s Capital Investments in India

Since its late debut into the Indian market, Sequoia Capital has made the next high investments:

OYO: Oyo rooms was one among Sequoia Capital’s first investments again in 2014. In a round-headed by Sequoia Capital, it raised 30 crores. Since then, Sequoia has been a frequent investor and companion in Oyo, serving to it broaden into one among India’s main lodge corporations.

BYJU’s: Sequoia Capital made one other spectacular funding in BYJU’s, India’s largest on-line training startup, which was began by Byju Raveendran in 2011. In 2016, Sequoia led a $75 million funding spherical for BYJUs.

Ola: India’s greatest cab aggregator has been a favourite of traders since its inception. Throughout Ola’s Sequence C funding spherical in 2014, Sequoia Capital made its first funding, serving to the corporate elevate roughly $41 million.

Zomato: Deepinder Goyal and Pankaj Chhadah established Zomato, India’s restaurant discovering and meals supply community, in 2008. Zomato was Sequoia Capital’s first funding in 2013. Since then, Zomato has expanded its operations to 24 international locations and 10,000 cities all through the world. Zomato claimed to have reached the milestone of 1.3 crore month-to-month orders throughout the 2018 FIFA World Cup.

MobiKwik: Upasana Taku and Bipin Singh began MobiKwik, India’s high cellular pockets firm, in 2009. The corporate found MobiKwik in 2013 and has been investing in it ever since.

MobiKwik could not have been in a position to seize the market the way in which Paytm did, nevertheless it stays part of Sequoia’s portfolio.

Mu Sigma: Mu Sigma is an information analytics firm fashioned in 2004 by Dhiraj Rajaram to help companies in making higher selections utilizing knowledge. Sequoia Capital led a $25 million Sequence C fundraising spherical for Mu Sigma. A few of the world’s most prestigious corporations make use of its companies.

Unacademy: Unacademy, India’s largest on-line studying platform, supplies high-quality courses from certified educators to Indian college students. Sequoia Capital led a spherical of $11.5 million in sequence B fundraising for the corporate. It raised $21 million in sequence C funding just lately. By becoming a member of in the latest spherical of funding, Sequoia demonstrated its help and confidence in Unacademy.

MoneyTap: Balaji Parthasarathy, Kunal Varma, and Anuj Kacker based MoneyTap, India’s first app-based shopper line of credit score enterprise, in 2015. Sequoia Capital put cash into the platform to enhance its place within the digital lending market. Within the first 6 months after its inception, MoneyTap attracted 300,000 customers. MoneyTap is out there in 30 areas throughout the nation, with over 25 lakh app downloads throughout all platforms.

City Ladder: In 2012, Ashish Goel and Rajiv Srivatsa co-founded City Ladder, a web based furnishings and residential items store. Sequoia Capital led a $50 million funding spherical in 2015. City Ladder is creating its bodily retailers to grow to be profitable and thrive in its specialty.

Grofers: When the Gurugram-based grocery supply agency was only one 12 months outdated, it attracted cash from Sequoia Capital. It grew rapidly firstly of its growth however has subsequently struggled to achieve traction available in the market. It’s nonetheless a loss-making enterprise that’s making an attempt to lower bills by specializing in automation and warehouses.

Article proofread & printed by Gauri Malhotra.

Leave a Reply

Your email address will not be published.

A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.