India’s local financial media, Mint reported that Sequoia India might get additional fund for their sixth fund. The venture has been preparing for its sixth fund to invest in India and Southeast-Asia.
Up to August last year, the company has raised $695 million fund. Now, as the local media reported, the venture might be raising $200 million more. With the new fund driven by the fast-growing market and interest from Sequoia India’s limited partners.
If the news is true, then this fund would be the second biggest it has ever raised. The first one be the venture’s fifth fund that raised $920 million back in 2015.
Read more: Wrapping Up July: Funding Rounds
Sequoia India: a very active venture with large scale portfolios
As the Indian arm of Sequoia Capital in Silicon Valley, Sequoia India invested in many Southeast Asian startup at the early stages. The result is huge profit, especially in big companies such as Oyo Rooms, Grofers and Byju.
Although the start has been bumpy in Grofers, now the online grocery finally holds a steady place in Indian market. Meanwhile, after investing $25 million in Oyo, Sequoia stands to make around $500 at the share buyback.
In Byju, the venture has proved that it made the right decision of investing in the company. After investing a total of $50 million in the company since 2015, last year Sequoia sold part of its stake for $190 million. And it still has some stake left in the company.
Sequoia India also stands behind Indonesia’s biggest startups. The country’s local ride hailer, gojek, has its profile within the Indian venture’s portfolio. As well as Indonesia’s largest e-commerce platform, Tokopedia.
This year, Sequoia India has made 32 investment at the first half. It is the most active VC in India, according to Mint. Meanwhile, it has already closed the application for investment in the second half of 2019. It’s just a matter of time until the firm announced it’s first investment this part of the year.
Read more: Grab to Inves
