Sequoia Capital raises $2b for global fund; tops up India, China growth vehicles

Visual of Sequoia Capital homepage.

Global venture capital major Sequoia Capital has raised $2 billion for its Global Growth Fund II along with topping up growth funds targeted at China, India and US, according to its filings with the SEC.

As per the filings, the US-based investment firm said it raised nearly $1.9995 billion for its Sequoia Capital Global Growth Fund II, which was launched in  2015. No target was announced for the fund at that time. The commitments for this fund have come from 104 LPs.

In a separate filing, the venture capital giant said it had raised $899.5 million for its Sequoia Capital China Growth Fund IV, which received capital from 110 LPs since it was launched last year.

It was reported last year that Sequoia was looking to raise around $1.5 billion for two new China funds. According to news reports the company was looking to raise $500 million to $550 million for Sequoia China Venture Fund VI LP and $850 million to $900 million for Sequoia China Growth Fund IV LP.

In 2015, Sequoia had closed a $625 million China growth fund, while in 2014, it raised a $450 million China venture fund.

Sequoia China was started in 2005 by Neil Shen, a founder of online travel company Ctrip.com International Ltd. It invests between $100,000 and $1 million in seed companies, between $1 million and $10 million in early venture, and between $10 million and $50 million in growth investments.

To top up its India investments, Sequoia has also raised additional funds for Sequoia Capital India IV, taking the total amount raised in the fund to $694.8 million, the filings show. The fund attracted capital from 85 LPs.

In April 2015, Sequoia had added another $210 million to its existing $530 million-India fund which it had raised in 2014.

Sequoia, which started operations in India in 2006, has invested in over 100 companies so far across sectors such as healthcare, consumer and financial services. Last year, the company closed a new $920 million fund, targeted mainly at Indian companies. This helped propel Sequoia’s total assets under management to more than $3 billion in India.

In India, Sequoia has backed companies like Just Dial, Freecharge, Zomato, and Oyo Rooms, among others. Its recent investments include a $20 million funding into office spaces firm Awfis and participation in the $15 million funding round raised by travel portal ixigo.

It was recently reported that Sequoia Capital has sold a stake in eight of its portfolio companies in India to Madison Capital for $180 million in secondary transactions.

In another SEC filing, Sequoia said that it raised $474.5 million for its fourteenth U.S. venture fund, Sequoia Capital U.S. Venture Fund XIV, which was announced in 2013.

Also Read:

Sequoia looking to raise up to $1.5b to invest in Chinese tech startups

Sequoia Capital raising two new funds, to increase Asia exposure

India: Sequoia Capital sells stake in 8 portfolio companies to Madison Capital for $180m

Sequoia Capital raises massive $920m new fund for India

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.