Setting huge hopes from Indian market, one of the largest venture capital firms in the world, Sequoia Capital has raised $920 Million in a fresh funding round to invest in Indian Startups. This news comes at a time when investment in India has slowed down after a number of incidents in the last year.
Sequoia Capital’s Indian chapter is one of the highest rated venture capital firms in Asia. Since its inception in 2006, the VC firm has invested in more than 100 startups including some big names such as Oyo Rooms, Grofers, Craftsvilla and Roadrunnr. In last 11 months alone, Sequoia India has invested around $272 Million in 54 deals, making it a clear leader in the Indian Startup scene.
The fund raise has not been confirmed by the VC firm yet. However a report in Asian Venture Capital Journal said that the round was closed around a month ago.
Prior to this, Sequoia raised $210 Million last year on top of $530 Million which was raised two years ago. Going by the figures, this is the highest ever fund raised by a VC firm to invest in Indian Startups. This news will come as a new hope for a lot of startups in India considering that the last few months of last year were not as good as expected for the Indian startups following layoffs and shut downs.