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.
Sequoia Capital, one of the most prominent venture capital firms in Silicon Valley to have invested in India, announced Friday that it has raised $530 million for its fourth India-focused fund, taking its total investments in the country to nearly $2 billion. The Menlo Park, Calif.-based venture capital firm, which is known for its early and seed-stage investments in companies such as Google Inc (NASDAQ:GOOGL), Apple Inc. (NASDAQ:AAPL) and Yahoo! Inc. (NASDAQ:YHOO), said that the fund will be used to expand its investments in India and Southeast Asia. The new cash infusion from Sequoia Capital comes at a time when foreign investors are taking a fresh interest in India, drawn by hopes of sweeping market reforms from the new Narendra Modi-led Bharatiya Janata Party government.
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