MUMBAI May 30 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
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)