On Tuesday, Sequoia Capital announced that it has secured $2.85 billion to invest in Indian and Southeast Asian startups, despite the region’s present lack of new business investment.
This is Sequoia’s greatest fundraising effort for India and Southeast Asia to date.
Out of this, $2 billion is dedicated to an early-stage, venture and growth fund for India.
The remaining $850 million is dedicated to the Southeast Asia region. With the new fund, Sequoia SEA intends to continue to invest at the seed, Series A, and growth stages in companies across the region.
“This fundraise, which comes at a time when markets are starting to cool after a very long bull run, signals our deep commitment to the region and the faith our Limited Partners have in the long-term growth story of India and Southeast Asia,” the company wrote in a blog post.
Sequoia India and Southeast Asia has backed several Web3 startups including CoinSwitch Kuber and Polygon until now.
Also Read: Polygon Raises $450M By Sequoia Capital India For Web3
The venture capital has also repeatedly supported these Web3 startups by not selling the crypto firms’ tokens as soon as their vesting period expires.
Several Web3 founders have said that Sequoia Capital has gained street cred in this nascent category in the past two years.
Sequoia India and Sequoia SEA have some impressive startups under their umbrella of investments including social commerce startup Meesho, neobank and payments processor Razorpay, fintech giants CRED and Pine Labs, and edtech groups Byju’s and Unacademy.
The company will continue to focus on SaaS and fintech startup investments along with expanding focus on newer categories including web3.
