“This fundraiser, which comes at a time when markets are starting to cool after a very long bull run, signals our deep commitment to the region,” the firms said in the post.
Sequoia India and Sequoia Southeast Asia raised US$2.85 billion ($3.97 billion) across three funds to continue backing startups in the region despite a stock market rout roiling tech companies.
For the first time, Sequoia is launching a dedicated Southeast Asian fund, totalling US$850 million, while US$2 billion will be allocated to the Indian venture and growth funds, according to a blog post on Tuesday.
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