Sequoia Capital to invest US$ 500-600 mn. in India
Chandigarh, (PTI): Venture Capital firm 'Sequoia Capital' will invest $500-600 million in Indian companies, for meeting their capital requirements for growth, in the next couple of years.
"We will invest money ranging between $500 and $600 million in Indian companies in next couple of years," Sequoia Capital (India), Associate, Ravi Shankar, told PTI here.
Sequoia Capital, which mainly invests in young companies having potential to grow, has identified various emerging sectors in the country and would address their needs.
"We have found several areas such as internet mobile, specialised retailing, telecom, KPO etc in the country which offer immense potential and we would like to focus on these areas," he added.
The firm had already invested $600 - $700 million in 40 Indian companies including Cafe Coffee Day, Idea Cellular, Paras Pharmaceuticals, shaadi.com, SKS microfinance.
The venture capital market has grown exponentially in India, Shankar said, adding "five years back, venture capital business in the country stood at $ 2 billion which has increased to $15-$20 billion at present, and it will grow further."
The firm was quite upbeat over the growing economy of the country. "The GDP of the country is growing at faster pace, indicating the fundamentals are quite strong here," he said.
Sequoia Capital presently has two offices in Mumbai and Bangalore. Besides, it also operates in the US, China and Israel.
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