Sequoia Raises US$850 Million Fund Dedicated to Southeast Asiaby Fintech News Singapore June 14, 2022
Sequoia India and Sequoia Southeast Asia announced that they have collectively raised US$2.85 billion across a set of funds.
This includes Sequoia’s India venture and growth funds as well as an US$850 million Southeast Asian fund, its first dedicated fund for the SEA region.
This year marks the 50th anniversary of Sequoia as a global firm, 16 years in India, and 10 in Southeast Asia.
According to Sequoia, the fundraise comes at a time when markets are starting to cool after a very long bull run which signals its commitment to the growth in India and Southeast Asia.
The new funds will be used to help build companies from idea to IPO and beyond.
The region’s startup ecosystem has grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer incomes.
Last year, India emerged as the third-largest startup ecosystem in the world, after the USA and China. Southeast Asia, meanwhile, is on track to become a US$1 trillion digital economy by 2030.
In 2019, Sequoia introduced the 16-weeks programme Surge for early stage startups which has grown to a community of 246 founders from 112 startups across more than 15 sectors.
Last year, the VC had launched Sequoia Spark, its fellowship for female founders, and Sequoia Build, a programme for growth stage startups looking to scale sustainably.
Sequoia India and Southeast Asia said in a statement,
“The startup and venture capital ecosystem in India and Southeast Asia has made great strides in the last decade and will continue to mature. 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.”