Sequoia First Dedicated Fund for SEA region, a newly established fund to mark 50 years of the Venture firm has secured $2.85 Billion to drive growth in SEA region. Sequoia Capital India and Sequoia Southeast Asia has collectively raised the new fund across a set of funds, including India venture and growth funds. This also includes an $850 million Southeast Asian fund.
The VC firm’s calls the fund as “first dedicated fund for the SEA region“, which they wrote in their blog, “This year marks the 50th anniversary of Sequoia as a global firm, 16 years in India, and 10 in Southeast Asia. We’ve had the good fortune to partner with some of the most innovative, mission-driven founders in the region, across multiple sectors, stages and many market cycles.”
The venture capital firm added that with the new funds, its mission to help founders build legendary companies from idea to IPO and beyond will be further bolstered.
“Valuations and velocity will move with markets. What endures is value creation in terms of revenue growth, profitability and free cash flow rooted in real innovation, excellence in execution and a maniacal focus on customers. At Sequoia India and Southeast Asia, we intend to double down on our efforts to help founders build healthy companies that will endure,” the blog stated.
Sequoia bullish about Indian and Southeast Asian Startup Ecosystems
This announcement comes a few weeks after the news broke that the venture capital firm had postponed the closing date of this fundraise, due to the controversies of Sequoia’s portfolio companies—Zilingo and BharatPe.
However, the VC firm stated it continues to believe in the Indian and Southeast Asian startup ecosystems. Sequoia stated the firm’s initiatives in the region continue to reflect the firm’s collective desire to actively contribute to building and supporting the ecosystem.
“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,” said the post.
Sequoia believes both the startup and venture capital ecosystem in the region will continue to mature and grow.
“The region’s startup ecosystem has grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer income. Last year, India emerged as the third-largest startup ecosystem in the world, after the US and China. Southeast Asia, meanwhile, is on track to become a $1 trillion digital economy by 2030,” the blog stated.
