Venture capital firm Sequoia Capital has raised $530 million (Rs 3,121.7 crore) in its fourth India-focused fund to build on its venture and early growth investment activity in India. The new fund will invest primarily in the technology, consumer and healthcare sectors.
With this fund, the total capital committed to Sequoia Capital’s India focused funds equals approximately $2 billion.
The PE firm’s India strategy includes seed, venture and growth investments with cheque sizes ranging from a few hundred thousand dollars to over $50 million. To take advantage of the opportunities available beyond India, the new fund will also include investments in South East Asia. The firm has an office in Singapore since 2012.
Sequoia Capital has now been investing in India for eight years and has invested in over 75 companies. These include Capillary Technologies, Druva, Just Dial, Micromax, Mu Sigma, Pine Labs, Prataap Snacks, Quickheal, SCIO Analytics, Star Health, Stovekraft, Truecaller, UnitedLex, Vasan, Vini Cosmetics, Via and Zomato.
In the last few years, the VC firm has increased focus on technology investments in India. More than 25 technology companies have been added to the portfolio since 2011. The fund wants to cash in on the rapid growth of mobile internet and the emergence of India-based global software companies.
Over the past two years a number of VC firms have raised India-focused funds.