Sequoia Capital says raises $530 mln India-focused fund
MUMBAI May 30 (Reuters) - Sequoia Capital, best known for its early-stage investments in companies such as Google Inc , has raised $530 million for its fourth India-focused fund, the U.S. venture capital fund said in a statement on Friday.
Although intended to focus on India, the fund will also look for opportunities in Southeast Asia, and will invest primarily in technology, consumer and healthcare sectors, Sequoia said.
With the new fund, the total capital committed to Sequoia's India-focused investments will be around $2 billion, it said in the statement. The U.S. fund's strategy in India includes seed, venture and growth investments.
Sequoia Capital is invested in more than 75 companies including Just Dial, handset maker Micromax Informatics Ltd, and Vasan Eye Care Ltd.
The new fund comes amid surging interest by foreign investors in India, fuelled by expectations that the new Narendra Modi government will help kickstart economic growth with new economic and fiscal reforms. (Reporting by Indulal PM; Editing by Subhranshu Sahu)
- Tesla says in talks with BMW over car batteries, parts
- Exclusive: China ready to cut rates again on fears of deflation - sources
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- China building South China Sea island big enough for airstrip: report
- Suicide bomber kills 45 at volleyball match in Afghanistan
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video