Sequoia Capital made its entry into Indian market in 2006, much before Snapdeal and Flipkart became giant ecommerce portals. It was by way of acquisition of Westbridge Capital Partners as the new company s named Visit. Since then, this venture capital firm has invested in more than 100 companies that include Micromax, Zomato, and Ola. It has grown into a behemoth itself with a voracious appetite to invest in start ups, especially those in the world of tech and internet.
Sequoia Capital India was the most active VC firm all over Asia in summer of 2015. This was revealed by CB Insights when it released a ranking of the prominent VC firms operating in Asia. Sequoia Capital India invested in consumer delivery company Grofers, another grocery app Peppertap, and finally in Urban Ladder, an online furniture company. In this period, the 2nd and 3rd tank were snatched by VC firms like SAIF Partners and Accel Partners. Sequoia Capital China languished at 7th position in this list.
Sequoia Capital India raised $400 million in 2006 and $300 million in 2007 to become the first Indian venture capital firm to touch the ceiling of $1billion. It chose to invest more than $11 million in a microfinance company called SKS Microfinance in 2007. The company did not look back since then.
Even though Sequoia Capital is labeled as a VC firm mainly focused upon tech and internet companies, its Indian arm has invested money in companies in diverse sectors of economy. It has invested in healthcare, finance, consumer delivery, beauty, personal care, and kitchen apps. But tech remains the first love of the company and its investments in companies like MobiQwik, ZoomCar, and Voonik being prime examples of this love affair.
Although journey of Sequoia Capital India has been an unqualified success, the company has had to exit from 12 of the companies it chose to invest in the first place.