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By Yifan Wang
Sequoia Capital has raised $2.85 billion to fund Indian and Southeast Asian startups, because the U.S. enterprise capital firm continues to wager on the area’s rising shopper incomes and fast adoption of digital expertise.
The contemporary capital raised included fundraising for a number of Indian enterprise and development funds and an $850 million Southeast Asian fund, which is Sequoia’s first devoted fund for the Southeast Asian area, the corporate stated in a press release on Tuesday.
“This fundraise, which comes at a time when markets are beginning to cool after a really lengthy bull run, indicators our deep dedication to the area,” Sequoia stated, pointing to India and Southeast Asia’s increasing consumption energy, supportive laws and excessive expertise density.
Write to Yifan Wang at yifan.wang@wsj.com
