Sequoia Capital has raised $383 million for its India Growth Fund I, according to a regulatory filing. This is a new fund floated by Sequoia following its mereger with WestBridge Capital Partners in India. WestBridge had raised two funds earlier – $150 million in 1999 and $200 million in 2005.
It plans to focus on fast growing domestic industries like retail, and infrastructure, which thrives on domestic demand.
The new fund make about 20 equity investments in the range of $10 million to $50 million over the next three years.