Sequoia Capital India, India’s leading venture capital and growth equity investment firm, has closed its third venture capital fund for India at approximately $300 million.
This, the company claimed, is the largest venture capital fund ever raised for India, as opposed to private equity or late stage fund, and makes Sequoia Capital India (formerly known as WestBridge Capital Partners) India’s largest and most active backer of early stage companies.
Consistent with its two prior India-focused venture capital funds, this fund will focus on investing in high-growth early stage companies across sectors. The firm currently manages over $1 billion in dedicated capital for India across three venture capital funds and a growth equity fund.
Speaking on the launch of the new fund, Sumir Chadha, managing director, Sequoia Capital India said, “We are pleased to announce the closing of Sequoia Capital India III, which we capped at $300 mm, our third venture capital fund for India. We look forward to continuing to partner with high quality entrepreneurs to build large, valuable companies.”
“Sequoia Capital India is very pleased with the partnerships that we have built with management teams that we have invested with over the past seven years, and all the success that they have had.” said KP Balaraj, managing director, Sequoia Capital India.
Sequoia Capital India has been one the most active investment firms in India and has invested in over 35 companies over the past seven years, including market leaders such as Times Internet, Applabs, Bharti Telesoft, Café Coffee Day, FirstSource, GlobalLogic, IDEA Cellular, Indecomm, marketRx and SKS Microfinance.
Source: Economic Times