Sequoia closes its third fund at $300 million

Sequoia Capital India, a venture capital and growth equity investment firm, on Friday announced that it recently closed its third venture capital fund for India at approximately $300 million. According to Sequoia, this new fund will focus on investing in high-growth early-stage companies across sectors.

The firm currently manages over $1 billion in dedicated capital for India across three venture capital funds and a growth equity fund. Speaking on the launch of the new fund, Sumir Chadha, managing director, Sequoia Capital India, said, "We are pleased to announce the closing of Sequoia Capital India III, which we capped at $300 million - our third venture capital fund for India. We look forward to continuing the partnership with high-quality entrepreneurs to build large, valuable companies." "Sequoia Capital India is pleased with the partnerships built with management teams, in which we have invested over the past seven years," said K P Balaraj, MD, Sequoia Capital India.