Sequoia Capital closes Indian growth fund on $725m

The fund will make late stage, pre-IPO and public market investments in India in sectors such as technology, retail, financial services and infrastructure.

Sumir Chadha, managing director, Sequoia Capital India, said, 'The raise of Sequoia Capital India Growth Fund II demonstrates our belief in the strong growth story in India, and builds on the performance of our first growth fund.'

Sandeep Singhal, also managing director at Sequoia Capital India, added, 'We believe that India has a very high number of promising companies that are poised to take their businesses to the next level and we are committed to investing and partnering with these firms to help them achieve their goals.'

No investments have been made from Sequoia Capital India Growth Fund II.

Including this latest fund, Sequoia Capital India manages approximately $1.8bn in India-targeted funds.

Sequoia Capital India closed its first Indian growth fund on $400m in 2006. Investments from that fund include food business Café Coffee Day, hydropower firm Coastal Projects, menswear apparel firm Cotton County, institutional brokerage Edelweiss Capital, luxury brand operator Genesis Colours, contract research company GVK Bio and telecom operator Idea Cellular.

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