Sequoia Capital India is eyeing a US$2.8 billion fund for India and Southeast Asia – its largest so far, according to a MoneyControl report that cited sources.
For this new fund, the VC investor has written to its parent firm and other limited partners. It had raised US$1.35 billion in 2020 for its seventh fund.
Sequoia Capital India declined to comment on Tech in Asia’s request for confirmation.
The report noted that Sequoia Capital is also looking at a bifurcation to raise separate funds for Indian and Southeast Asian startups.
In another development, the firm’s managing director, Amit Jain, is stepping down to focus on his own venture.
Editing by Collin Furtado and Eileen C. Ang
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