Aditya Hadi Pratama · · 2 min readSequoia Capital launches $850m dedicated fund for SEA
The India and Southeast Asia units of global venture capital firm Sequoia Capital have announced a US$2.9 billion fundraise across a set of funds. This includes US$850 million into its first dedicated Southeast Asian fund, Sequoia SEA Fund I, after operating for 10 years in the region.
Photo credit: Sequoia
Sequoia Capital set up an office in Southeast Asia to help its portfolio companies expand into the region. “As our team spent more time here, we started to discover a fledgling tech ecosystem that showed many of the same early signs of growth we had seen in India and China before,” the firm said in a statement.
Sequoia SEA Fund I will focus on seed, series A, and growth-stage startups in the region. Currently, the VC firm’s portfolio includes unicorns such as Gojek, Tokopedia, Traveloka, and Kopi Kenangan.
A report from Google, Temasek, and Bain & Company forecasts Southeast Asia’s digital economy to hit US$1 trillion in value by 2030. Sequoia Capital also witnessed the emergence of a thriving Web3 ecosystem in the region and new waves of innovation in Vietnam, the Philippines, Thailand, and Malaysia.
In 2019, the VC firm rolled out an accelerator program for early-stage startups called Surge, which has been attended by almost 250 founders. It also set up a fellowship program for female founders called Sequoia Spark and a dedicated program for growth-stage startups called Sequoia Build.
It has 40 employees in the Southeast Asia office to operate its investment effort and other programs.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
