Sequoia Capital has closed its latest fund for India and southeast Asia at $695 million. It is the Californian VC’s sixth in India since it expanded into the country in 2012, which it claims, via a statement, will be used to “double down on investments in both early and growth stage companies in the technology, consumer and healthcare sectors.”
Sequoia has made over 200 investments in India and southeast Asia to date, including heavyweights like Zomato, Go-Jek, Tokopedia and hotel chain OYO Rooms. Southeast Asia now accounts for around a quarter of Sequoia India’s activity, cementing its position as one of the world’s most exciting tech markets.
Alongside the news comes a raft of hires, including Abheek Anand from Facebook, and the promotion of four VPs to principle roles. They will oversee a region projected to have a combined GDP of $14tr by 2030, and over 1.5bn mobile users. “Many of the up and coming startups of today are going to be the category creators and leaders of tomorrow,” added the statement.
Sequoia’s activity in India and southeast Asia reflects a ramping-up of its operations worldwide. It is on the cusp of closing an $8bn global fund, while its China division has teamed up with Chinese state-owned JD.com on a $6bn, late-stage investment vehicle.
Meanwhile, Sequoia-backed firms continue to make considerable headway. India-based Capital Float today acquired personal finance appmaker Walnut for $30m, while at the beginning of August Sequoia led a $50m Series B investment in Shanghai used goods swap firm Xiangwushou.