+1-888-308-5802     
News Contact Us

Sequoia Capital launches startup accelerator in India & Southeast Asia

Author : Saif Ali Bepari | Published Date : 2019-01-25 
  • The company’s accelerator could be the biggest such program to be launched in India.
     
  • The program would be targeting early-stage startups in Southeast Asia and India across a number of different sectors.

Sequoia Capital India (Sequoia), a branch of renowned American venture capital firm, has reportedly announced that it is rolling out a startup accelerator & incubation program, Surge, across India as well as Southeast Asia.

Reports cite, the program would be picking up approximately 10 to 20 early-stage startups twice on an annual basis and investing over $1.5 million in each of the firms. The venture capital firm is likely to invest more than $100 million over the upcoming 4-5 years under the new initiative.

According to a report by The Business Times, the program would be investing in the early-stage startups either in convertible notes or equity. The initiative would eventually charge the companies a portion of equity as a fee for participation. The participants could also appeal for more capital in front of curated investors, in one-on-one meetings and at mixers, at the end of the program.

The initiative could be the biggest such program to be launched in India and would probably reinvigorate the nation’s sluggish financing market and propel entrepreneurial activity further. Apart from India, the initiative would target startups across Southeast Asia in sectors such as deep tech, consumer internet, healthcare technology, enterprise software, direct-to-consumer brands or crypto and fintech.

The MD of Sequoia Capital India, Shailendra Singh stated that the trigger is a realization that the nation is doing well and that the tech ecosystem is booming, on the other hand, the company ran a number of founders’ surveys & discovered they are underserved. Singh further added that the program would work independent of the company and would have a separate brand as well as a different dedicated team.

According to reports, the company also intends to host an investor week at the end of the program for the startups where it would be inviting other venture capital companies.

About Author

Saif Ali Bepari

Saif Ali Bepari

A qualified Computer Science graduate, Saif Ali Bepari, armed with more of an inclination toward writing than coding, commenced his journey in the content industry as a freelancer. Currently penning down content for fractovia.org and a couple of other portals, Saif has also tinkered with creative writing, technical writing, blog writing, and copywriting. He can be contacted at- [email protected] | https://twitter.com/Saif_B17

Related News

Co-working firm Spacious the latest in WeWork’s acquisition spree

Published Date: 2019-08-29         Author: Saif Ali Bepari

New York-based co-working business, The We Company, formerly known as WeWork, has today announced its acquisition of rival start-up Spacious. The company, formed three years ago, is focused on converting restaurants closed during the day into efficient spaces for co-working. WeWork is a part of many... Read More

HAPSMobile wins federal approval to fly unmanned aircraft above Hawaii

Published Date: 2019-08-09         Author: Saif Ali Bepari

The development of HAWK30 focuses on providing an enhanced stratospheric telecommunication platform Japan based HAPSMobile- a subsidiary of SoftBank Corp., has reportedly confirmed that it has received an Authorizing Certificate from US Federal Aviation Administration to fly HAWK 30, a solar oper... Read More

FEMSA to ink joint venture deal with Raizen Conveniencias in Brazil

Published Date: 2019-08-07         Author: Saif Ali Bepari

Mexico based Fomento Economico Mexicano (FEMSA), a leading retail and beverage company, has reportedly announced that it will sign an agreement with Raizen to enter into a 50-50 joint venture. The collaboration aims at creating a powerful platform for FEMSA in the convenience store market in Brazil ... Read More

© 2019 Fractovia. All Rights Reserved