India’s growing tech scene now has access to an even huger pile of money.
Venture-capital heavyweight Sequoia Capital raised $530 million for its fourth India-focused fund. The Menlo Park, California-based firm said it will also be looking to invest in companies located outside India in the Southeast Asia region.
The new fund brings the firm’s total amount raised for deals in India and the surrounding region to $2 billion, a hefty sum even by American standards.
The fund will be focused mainly on technology, health care, and consumer-oriented business for companies from seed to growth levels.
Sequoia is one of the Valley’s oldest VC firms and was established in 1972. It has had a steady stream of hits going back to Apple and the founding of Oracle. More recently, it has also invested in Airbnb, YouTube, Instagram, and WhatsApp, which Facebook recently bought for $19 billion in cash and stock.
A Sequoia press release put it this way:
Sequoia Capital has now been investing in India for 8 years and has invested in over 75 companies. Many of these companies are category leaders. These include Capillary Technologies, Druva, Just Dial, Micromax, Mu Sigma, Pine Labs, Prataap Snacks, Quickheal, SCIO Analytics, Star Health, Stovekraft, Truecaller, UnitedLex, Vasan, Vini Cosmetics, Via and Zomato.
Although India’s startup scene is humming, barriers remain, including easy access to capital. India, which has a population of 1.2 billion, second behind China, is already home to established IT heavy hitters Slideshare, Zoho, and e-commerce giant Flipkart.
Mobile developer or publisher? VentureBeat is studying mobile marketing automation.
Fill out our 5-minute survey
, and we'll share the data with you.