SEQUOIA Capital, marking its 50th anniversary, has raised $2.85 billion to fund Indian and South-east Asian startups. The fundraising is its largest so far for India and Southeast Asia.
A total of $850 million will go towards Sequoia’s first fund dedicated to South-east Asia, Sequoia SEA Fund I.
The fund will be used “to partner with the next generation of founders on a mission to build enduring companies from the region”, said the company on its South-east Asian website.
Sequoia Capital entered South-east Asia with a small office in Singapore 10 years ago. Since then, it has grown into a team of 40 people across 12 nationalities, a portfolio of seed, venture and growth investments, and a hub for programmes like Surge and Spark.
“Over these years, our portfolio companies in Southeast Asia have often left us in awe about the depth of the market opportunity. From Gojek, Tokopedia and Traveloka’s rapid emergence, to leading the consumer internet revolution in Indonesia and Southeast Asia, to Kopi Kenangan’s ascent as a consumer brand, we have been surprised by the depth of the ecosystem in Indonesia.
“And with the global success of Biofourmis, Insider and Appier as AI pioneers, we are excited to see these “SEA to global” technology companies emerge. In the last couple of years, we have witnessed the emergence of a thriving web3 ecosystem and also seeing new waves of innovation in markets like Vietnam, Philippines, Thailand and Malaysia.”
It said that with the new fund, it will continue to invest actively at the seed, Series A, and growth stages in companies across the region.
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