Sequoia Capital's India, SEA ventures raise $2.85B across a set of funds

Sequoia India and Sequoia Southeast Asia have collectively raised $2.85 billion across a set of funds, including India venture and growth funds. This also includes a $850 million Southeast Asia fund.
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In a blog post, Sequoia Capital India and Sequoia Southeast Asia announced that it has collectively raised $2.85 billion across a set of funds, including India venture and growth funds. This also includes an $850 million Southeast Asian fund.

Called it the VC firm's "first dedicated fund for the SEA region", Sequoia further stated in the blog, "This year marks the 50th anniversary of Sequoia as a global firm, 16 years in India, and 10 in Southeast Asia. We’ve had the good fortune to partner with some of the most innovative, mission-driven founders in the region, across multiple sectors, stages and many market cycles."

The venture capital firm added that with the new funds, its mission to help founders build legendary companies from idea to IPO and beyond will be further bolstered.

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"Valuations and velocity will move with markets. What endures is value creation in terms of revenue growth, profitability and free cash flow rooted in real innovation, excellence in execution and a maniacal focus on customers. At Sequoia India and Southeast Asia, we intend to double down on our efforts to help founders build healthy companies that will endure," the blog stated.

This announcement comes a few weeks after the news broke that the venture capital firm had postponed the closing date of this fundraise, due to the controversies of Sequoia's portfolio companies—Zilingo and BharatPe.

However, the VC firm stated it continues to believe in the Indian and Southeast Asian startup ecosystems. Sequoia stated the firm's initiatives in the region continue to reflect the firm's collective desire to actively contribute to building and supporting the ecosystem.

"This fundraise, which comes at a time when markets are starting to cool after a very long bull run, signals our deep commitment to the region and the faith our Limited Partners have in the long-term growth story of India and Southeast Asia," said the post.

Sequoia believes both the startup and venture capital ecosystem in the region will continue to mature and grow.

"The region’s startup ecosystem has grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer income. Last year, India emerged as the third-largest startup ecosystem in the world, after the US and China. Southeast Asia, meanwhile, is on track to become a $1 trillion digital economy by 2030," the blog stated.

The firm added that they are at an exciting juncture in India and Southeast Asia, with ever-deepening markets, higher consumption power, supportive regulations and high talent density.

"We have never seen such diversity and dynamism in the founders we partner with; we are awed by their vision and ambition. There’s a strong sense in the emerging economies and fast-changing societies across India and Southeast Asia that ‘now is our time’. Many large companies with regional or global footprints will emerge from this region in the decade to come," the blog stated.

Edited by Kanishk Singh