Sequoia Raises $2.85bn For India, SE Asia | ET Now
2Venture capital firm Sequoia has raised a massive $2.85bn fund for investing in startups, and of this $2bn is earmarked for India.
With this, Sequoia has once and for all managed to quash many rumours (and proved media reports to be wrong) of its inability to raise funds as its been battling one crisis after another in India. For a large of this year, the team at Sequoia has been busy with the BharatPe and Ankiti Bose-Zilingo fiascos.
The new fundraise by Sequoia coincides with startups announcing mass layoffs, markdowns of portfolio companies, interest rates tightening and the era of easy money winding down. This is being seen as a deep commitment by Sequoia towards India.
Here’s a full report by ET Now’s Nayantara Rai
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