Sequoia Capital India has closed a seed fund of $195 million to back promising entrepreneurs across India and Southeast Asia, the venture capital firm announced Thursday.
A growing number of Indian start-ups are expected to launch large initial public offerings this year, according to Rajan Anandan, a managing director at Sequoia Capital India who looks after the Surge program.
“2020 was really a tale of two halves. The first half was very challenging,” he told CNBC’s “Street Signs Asia” Wednesday, a day before the funding announcement. He was referring to the months-long national lockdown in India due to Covid-19, which pushed the economy into a technical recession
The first three months of 2021 saw start-ups accelerating revenue growth, increased user adoption and in the early stages, an improved quality of entrepreneurs helming the companies, he added
Source: CNBC
By Saheli Roy Choudhury
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.