2 February, 2016, India: In its recent fund raising round, Sequoia has managed to crack the biggest deal by any VC fund for India till now. The company has clicked a mammoth amount of US $920 million funds from its investors. It has planned to channelize the raised amount to support the Indian startups.
This massive raise signals the long-term bullishness of investors around domestic startups even in the backdrop of not-so-great global macro indicators. With the new funds pumping in, company’s asset value has increased to more than US $3 billion. Sequoia has backed up some of the prominent ecommerce companies including Just Dial, Freecharge, Zomato, Oyo Rooms etc. The recent development clearly indicates Sequoia’s dominance in the domestic early-to-growth stage investing space.
As per the officials, company will be utilising the funds to back up Indian as well as south East Asian companies just like its fund IV. Sequoia had support technological hulks such as Google and Apple during their initial stage and it is looking forward repeat the history by investing in more startups. In April last year, Sequoia had added another $210 million to its existing $530 million-India fund which it had raised in 2014.
