 "fundraising")
US-based investment firm Sequoia Capital is reportedly raising new funds worth $2.25 billion from potential VCs in the funding winter.
The firm is working on a new $1.5 billion US growth fund focused on more mature companies, reports The Information.
The investment firm is also planning "a $750 million fund focused on earlier-stage deals," and aims to close the new funds this month, the report mentioned, citing sources.
These funds are being called "sub-funds," launched after the firm overhauled the structure for its US and European business.
The new funds come as Sequoia Capital recently told founders that it was expecting a longer economic recovery.
Also Read
"With the cost of capital (both debt and equity) rising, the market is signalling a strong preference for companies who can generate cash today," according to the VC firm.
Last month, Sequoia India and Southeast Asia raised $2.85 billion across a set of funds, including a $2 billion early-stage, venture and growth fund for India and an $850 million Southeast Asian fund, to help founders build companies from idea to IPO and beyond.
"This fundraise, which comes at a time when markets are starting to cool after a very long bull run, signals our deep commitment to the region and the faith our Limited Partners have in the long-term growth story of India and Southeast Asia," the company had said in a statement.
Last year, India emerged as the third-largest startup ecosystem in the world, after the US and China. India currently has more than 100 unicorns.
In 2021, Indian startups raised $42 billion across 1,583 deals, resulting in 42 unicorns.
Southeast Asia, meanwhile, is on track to become a $1 trillion digital economy by 2030.
--IANS
na/shb/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
