Sequoia Capital India (Sequoia India), the India unit of Silicon Valley’s top venture capital fund Sequoia Capital, has announced later today that it has recently closed its sixth fund at US$695 million.
Sequoia Capital India, which has made over 200 investments so far in companies across India and Southeast Asia (SE-Asia), will use the fund to double down on investments in both early and growth stage companies in the technology, consumer and healthcare sectors across India and SE-Asia.
The Fund-VI comes two years after it last raised $930 million for its previous India-focused fund and will take its total assets under management to $3.9 billion.
Besides this, Sequoia India also announced the departure of Abhay Pandey, who led some investments such as B9 Beverages, Awfis, Vini Cosmetics and others.
A very tough decision to say “farewell” after 11 terrific years is made somewhat easier as @Sequoia_India is in the best shape I have seen it in. Time to pursue my passion outside. Sincere gratitude to the founders I have had the privilege to work with, the team and my partners pic.twitter.com/8J0AKwHdHa
— Abhay Pandey (@Abhay__Pandey) August 21, 2018
“Abhay had wanted to create a dedicated consumer fund,” said the firm in a blog post.
Abheek Anand who joined the firm from Facebook and led the investments in Appier, Grofers, Cuemath, and MoneyTap has been promoted to Managing Director. He will focus on investments in SE-Asia.
Last month, Sequoia India’s two former managing directors – VT Bharadwaj and Gautam Mago, teamed up to launch a new $290 million investment firm, which will back early- to growth-stage private companies
Sequoia India is now looking at investment opportunities in sectors including (but not limited to) — mobile internet, online brands, enterprise SaaS, Artificial Intelligence, cryptocurrency, deep technology, healthcare, new age consumer brands. Moreover this time, the firm hinted, it likes to invest beyond India and SE-Asia unlike to its earlier approach of sticking to just India and SE-Asia.
[Top image – Sequoia India Group | Via – Sequoiacap.com]