Sequoia Capital raised $2.85 billion in funding for its SEA region.

Sequoia India and Sequoia South-east Asia, together have raised $2.85 billion, in a series of funding as a first dedicated fund for its SEA region (South East Asia region).

Out of the $2.85 billion funds raised, $850 million capital will be used by the Sequoia South-east, towards Seed funding, Series A, and growth-stage companies. And the remaining $2 billion will be used towards Indian ventures and growth funds.

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The fundraising came right about the time when markets were settling down after the bulls dominated for a very long time signaling the faith that Limited Partners have in the long-term growth story of India and Southeast Asia.

The funds raised will catalyze Sequoia's objective to provide the founders of the companies with all the necessary capital to establish the companies from a small idea to the process of IPO and beyond. 

Following the U.S.A and China, India emerged as the third-largest in terms of the Startup ecosystem. The Southeast region is on its way to becoming a 1 trillion dollar economy by 2030. To accelerate the objectives, Sequoia started an initiative named Surge in 2019, a 16 weeks program for early-stage start-ups. Over the years, it grew to a community of 230 founders and over 112 startups across 15 sectors.

Some of the successful investments made by Sequoia were OYO, Zomato, BhartPe, 1mg, Bira, etc. Also, it is interesting to note that the founders of CRED- Kunal Shah, Whatsapp- Neeraj Arora, and Mad Street Den- Ashwini Asokan are associated with Sequoia Capital as mentors.

“We are at an exciting juncture in India and Southeast Asia, with ever-deepening markets, higher consumption power, supportive regulations, and high talent density. We have never seen such diversity and dynamism in the founders we partner with; we are awed by their vision and ambition. There's a strong sense in the emerging economies and fast-changing societies across India and Southeast Asia that 'now is our time'.” Sequoia Team stated.

According to a report by Venture Intelligence, Sequoia India has committed more than $8 billion towards Indian Startups over the last 15 years. Sequoia India has raised $1.35 billion for the region in the year 2020 itself. However, the fundraising by the Indian startups has taken a step back since last year after raising around $35 billion.

-by Gautam

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