Venture capital firm Sequoia Capital announced having raised $2.85 billion which it will be using to fund startups from India and Southeast Asia. The firm made this announcement on June 14 further adding that it will be looking beyond current weakness in upcoming companies in the region.
In a statement, the company said, the capital raised includes $850 million in its first fund dedicated to Southeast Asia. The company has been pumping in investments in Southeast Asian startups since 2015 from a common India fund.
The remaining $2 billion has been raised in Indian venture and growth funds. This latest finding round goes on record as the company’s largest for India and Southeast Asia so far.
“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,” said Sequoia.
Citing data from Venture Intelligence, so far, the company’s India Unit, Sequoia India has committed over $8 billion to India and Southeast Asia over the last 15 years.