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Sequoia Capital India, formerly WestBridge Capital Partners, is planning to raise its third fund for India, reports The Economic Times. According to KP Balaraj, Sequoia Cap India Managing Director, the fund size can be in the range of $300-400 million. "We are raising a middle stage investment fund," Balaraj told ET. So the investments from the fund will see $20-30 million upwards in each company.

The fund is likely to be called Sequoia India Growth Fund. This will invest in services, high growth sectors as well as pre-IPO companies.

This will be Sequoia's (meaning WestBridge's) third fund in India. Its first fund was close to $150 million. Last year, it had raised $300 million.

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WestBridge Capital Partners Merges With Sequoia Capital