In a bid to expand its investment portfolio in India, the US-based venture capital firm, Sequoia Capital has raised another $210 Mn to its existing $530 Mn India fund.
With this additional funding, the venture capital firm will get a easy hand to look out for more deals in tech companies. As per the reports, the $210 Mn has been raised by the same set of limited partners or LPs, investors who provide capital to funds.
Just recently, Sequoia-backed Freecharge, a mobile recharge company, was acquired by homegrown online marketplace Snapdeal for an estimated $400 million. It is to be noted that Sequoia gets a 3% shareholding in the Snapdeal post acquisition.
Since it started operations in India back in 2006, the fund has invested in 100-plus companies across sectors such as tech, healthcare, consumer and financial services. Earlier in last year, Sequoia had announced its fourth India-focused fund taking its total capital committed in India to almost $2 Bn.
Sequoia Capital India specializes in investments in startup seed, early, mid, late, expansion, public and growth stage companies. It invests between $100,000 and $1 Mn in seed stage, between $1 Mn and $10 Mn in early stage and between $10 Mn and $100 Mn in growth stage companies.
In 2015 so far, Sequoia-led deals have accounted for more than 12% of all Indian startup venture rounds and 33% of capital raised by those startups in 2015. The venture capital firm targets sectors like Energy, Enterprise, Financial, Healthcare, Internet, Mobile and has presence in China, India, Israel, United States region.