On the 14th of June, one of the largest venture capital companies in the world, announced that their subsidiaries, Sequoia India and Sequoia South East Asia have come together to raise funds amounting to $ 2.85 billion USD.
The company has also decided to focus more on the South East Asian region and have set aside a separate $ 850 million USD just for the region. The South East Asian countries especially Singapore, Malaysia, Thailand, Philippines, and Indonesia have shown great entrepreneurial and start-up growth potential and Sequoia South East Asia will be looking to get in to the region and fund companies that show signs of success.
In the company’s public statement, they said that 2022 heralds the company completing 50 years since its operation and also went on to say that it has been 16 years since they entered the Indian market. This year also marks the company being in Southeast Asia for an entire decade.
They went on to say that the company has gone on to fund and join hands with some of the best and innovative entrepreneurs the world has seen and have experienced and gone through a lot together.
The fresh batch of funds comes at a time where the market and flow of funds have been experiencing a slump in a so called ‘funding winter’. With low funds coming into start-up companies, many start-ups especially Indian ones and ones operating in the country have been forced to apply the brakes on the growth and some have even had to take the tough decision of letting go of employees.
However, now that venture capital funds are securing money to inject into businesses, especially one like Sequoia Capital, the market in the start-up field in India might just start acting bullish now. The company also went on to say that they will be looking to invest into start-ups in various parts of their journey from the seed round all the way to their expansion state.
The company also announced their new funds on Twitter and it has only been up for 4 hours and is already on it was to 300 likes and has crossed 50 retweets. Many people commented on the posts commending this news and many with a sigh of relief as funds will now be injected in to the Indian economy which will in turn improve the worsening job market in the country
