Sequoia Capital India closes USD 725 mn growth fund

Mumbai, Aug 27 (UNI) Sequoia Capital India today announced the closure of its second growth equity fund, dedicated to India - Sequoia Capital India Growth Fund II, worth USD 725 million.

The Fund would be utilised to invest in late stage, pre-IPO and public market investments in India, the Company said in a release here. With the raise of this fund, Sequoia Capital India now manages India-targeted funds capitalised at close to USD 1.8 billion, reinforcing its position as one of the dominant venture capital and private equity investors in the Indian market.

Sumir Chadha, Managing Director, Sequoia Capital India said in the release that the raise of Sequoia Capital India Growth Fund II demonstrated the Company's belief in the strong growth story in India, and builds on the performance of the first growth fund.

''This fund allows us to offer the powerful Sequoia Capital platform of global networks and local knowledge to growth companies and help them expand into market leaders,'' he added.

Sequoia Capital India manages both growth/late stage and early stage funds. Through these funds, Sequoia Capital India has invested in more than 50 companies, including market leaders such as Applabs, Bharti Telesoft, Dr Lal Pathlabs, Firstsource, GlobalLogic, Indecomm Global and MarketRx. These investments span a broad range of sectors, focused on high growth companies and management teams with a strong potential to succeed.

UNI VK RN NP1537