Sequoia Capital Raises US$530 Million for India-focused Fund, Leads US$100 Million Financing Round for E-Commerce Company Coupang (Asia)

Source: The Economic Times, Coupang  |  Author(s): Madhav Chanchani

Venture capital firm Sequoia Capital has reached a final close on its fourth India-focused fund with US$530 million in capital commitments. The fund will focus on early stage companies, and will deploy capital in India as well as in Southeast Asia. Nearly 98 percent of the capital raised came from Sequoia’s existing limited partners. Separately, Sequoia Capital has led a US$100 million financing round for South Korea-based e-commerce retailer Coupang. Alternative investment firm Greenoaks Capital Management, specialized investment firm Rose Park’s Disruptive Innovation Fund and digital media incubator LaunchTime also participated. Sequoia’s investment was structured through Sequoia Capital Global Equities and Sequoia Heritage. Coupang sells goods ranging from fashion to produce on its online platform.