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Sequoia Capital to Raise India-Focused VC fund

Sequoia Capital to Raise India-Focused VC fund

Global venture capital firm Sequoia Capital has formally registered a new investment vehicle Sequoia Capital India V with the U.S. capital market regulator Securities and Exchange Commission early this month to invest in India, reports VCCircle. The company expects its fundraising process will take more than a year. While it did not disclose the target corpus, sources had told VCCircle earlier that the firm was expecting to raise as much as $800 million.

Last year, Sequoia raised $530 million in its fourth India-focused fund to invest in technology, consumer and healthcare sectors and has invested in Practo, OYO Rooms, Grofers, Peppertap and UrbanLadder

Sequoia makes seed investments of a few hundred thousand dollars to over $50 million growth equity investments in India. It also backs overseas start-ups.

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