Global venture capital and growth investor Sequoia Capital has announced the launch of two new funds – a $2 billion early-stage venture, and a $850 million dedicated one for Southeast Asia, along with growth products for India. There will also be a focus on the Web3 ecosystem.
- Sequoia has ambitious plans for the sector and aims to “doubling it”. It currently operates several programs including Surge and Spark. While the former supports very early stage firms, the latter offers fellowships to other women founders in addition to venture and growth investments.
- The official blog post wrote,
“This fundraising, which comes at a time when markets are starting to cool off after a very long bull run, is a reflection of our deep commitment to the region and the confidence of our limited partners in the long-term growth story of India and South East Asia. signals.”
- Sequoia India and Southeast Asia are the most prolific investors in the region, but the unveiling of the two funds comes as a positive development amid growing pessimism in the financial market.
- Given a “thriving” Web3 ecosystem and the emergence of new waves of innovation in markets such as Vietnam, the Philippines, Thailand and Malaysia, Sequoia Southeast Asia aims to invest actively in companies in the seed, Series A and growth stages. have to continue. area with new funds.
- Despite the lack of regulatory clarity, the firm is shifting its focus to new locations, including Web3. It is important to understand that most Indian venture capital firms have been reluctant to support crypto startups due to the ruling party’s regressive stance on the industry and its failure to make a meaningful breakthrough in the tax rule that came into force in April this year.
- In contrast, Sequoia India and Southeast Asia have invested in several Web3 startups in the country, such as CoinSwitch Kuber and the Ethereum Layer 2 protocol, Polygon.
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.