Sequoia Capital has raised $2.85 billion to deploy across startups in India and Southeast Asia, the largest dedicated corpus for the region by a risk investor. It will utilise $2 billion across its India venture and growth investments, while the remaining will go to the Southeast Asia companies.
The new funds follow a payday for the 50-year-old venture firm in India, where it started investing 16 years ago. The firm, which has 11 managing directors in the region, has seen nine of its portfolio startups, including Freshworks, GoJek and Truecaller, go public in the past 18 months, a figure unheard of in the region until two years ago.
The public listings have delivered Sequoia India and Southeast Asia — which has raised three additional funds including a $525 million venture fund and a $825 million growth fund in the past two years — a return of nearly $4 billion in realized and unrealized gains at the current market value, according to an analysis.