Venture fund Sequoia is planning to raise close to $1.25 billion (around Rs 8,900 crore at current exchange rate) for its new fund for the country, two people familiar with the development told The Times of India.
The new corpus is 80% larger than the $695 million the firm raised for its sixth fund in 2018.
Sequoia will also, for the first time, split the corpus into two vehicles — while around $800 million is expected to be raised for growth fund, about $500 million will be raised for the early-stage fund, according to one of the persons in the know.
Meanwhile, home design and renovation platform Livspace has raised about $60 million (Rs 427.6 crore at current exchange rate) from Hong Kong-based Tahoe Investment Group, and Singapore-domiciled Mercer Investments and EDB Investments, along with Kharis Capital, a European investment management firm and Venturi Partners managing director Nicholas Cator.
The Economic Times reported the development citing regulatory filings from Singapore as source.
The investment is likely to close next month in a round which could go up to $100 million, people familiar with the matter said.
Bengaluru-based Livspace, operated by Home Interior Designs E-commerce Pvt. Ltd, last raised $70 million in 2018, led by TPG Growth and Goldman Sachs.