- As Sequoia Capital looks beyond current investment weakness in new companies in Asia, it has raised $2.85 billion to fund Indian and Southeast Asian startups.
- According to the Reuters report, the fundraising is Sequoia's largest so far for India and Southeast Asia.
- Money raised included $850 million in Sequoia's first fund dedicated to Southeast Asia. It has invested in Southeast Asian startups since 2015 from a common India fund.
- The remaining $2 billion has been raised in Indian venture and growth funds.
- "This fundraise, which comes at a time when markets are starting to cool after a very long bull run, signals our deep commitment to the region," Sequoia said.
- Funding of Indian startups has slowed since a record $35 billion fundraising last year. Companies have struggled to raise capital and are forced to cut the workforce.
- Photo by Gerd Altmann from Pixabay
