News: Sequoia Capital India raises $400 million fund

(RTR 15/09/2006) Mumbai - Sequoia Capital India said on Friday it had recently closed a $400 million fund to invest in later stage and growth stage businesses in India.

This is an extension to the venture capital firm's historical focus on early to mid-stage firms, it said in a statement.

With the new fund the firm now manages about $750 million of venture capital for India and has invested in more than 25 firms in the last few years, including software firm Applabs, Bharti Telesoft, ICICI OneSource and Indiatimes portal.

The new fund has invested in Cafe Coffee Day, a chain of about 1,500 cafes, and in the buyout of Flextronics Software Services Ltd. by an affiliate of private equity firm Kohlberg Kravis Roberts, Sequoia said.

Venture capital firm WestBridge Capital Partners in May merged its operations in Sequoia Capital.