Sequoia Capital, the VC firm which is perhaps one of the most aggressively investing firms in Indian startups right now, is now planning to raise another round of about $800 million for the India focused funds, to further expand its portfolio and invest in successive rounds, reports ET.
The process of raising new funds is expected to take place after 6 to 12 months and will close quickly. Sequoia last raised funds for the India fund about 18 months ago.
According to source, who detailed ET about the development, Sequoia Capital may begin approaching limited partners, industry parlance for investors in these funds, as early as October.
Sequoia already has $2 billion under management and the new fund will make the firm one of the largest private equity and venture capital managers investing in Indian ecosystem.
Sequoia, for a rather long time, has been making some big-ticket investments into India. The VC firm has started investing aggressively in mid-stage to late-stage startups. This happened when the firm raised $530 million in May 2014 and then $220 million earlier this year. Initially, it raised corpus of $725 million in August 2008.
With the new larger corpus coming to the firm, we may see more deals in from Sequoia in mid-stage to late-stage startups for growth and expansion.
Sequoia Capital has participated in more than 80 deals since the starting of year 2014. It has been a partner firm in some of India’s biggest funding rounds, such as OYO Rooms ($100 million) and Practo ($90 Million). It had also been a partner firm in $80 million Series C round of FreeCharge, which was later acquired by Snapdeal.