NEW DELHI: Sequoia India and Sequoia South-East Asia is raising US$2.85bil (RM12.6bil) across three funds to continue backing startups in the region, despite a stock market rout roiling tech companies.

       For the first time, Sequoia is launching a dedicated South-East Asian fund, totaling US$850mil (RM3.8bil), while US$2bil (RM8.8bil) will be allocated to the Indian venture and growth funds, according to a blog post yesterday.

       “This funds, which come at a time when markets are starting to cool after a long bull run, signals our deep commitment to the region,” the firms said in the post.

       Since starting 16 years ago, Sequoia India has broadened its geographical reach to include South-East Asia, betting on companies like Gojek and Tokopedia, that merged to become Indonesia’s largest publicly listed tech company, known as GoTo Group.

       Sequoia India and South-East Asia now have about US$9bil (RM40bil) of assets under management.

       Sequoia India invested in more than 400 startups across India and South-East Asia, 36 of which are valued at more than US$1bil (RM4.4bil), including Byju’s and Zomato Ltd, according to the firm. An additional 13 companies have gone public. — Bloomberg