In the highest capital ever raised in one tranche by any venture capital fund, Sequoia India and Southeast Asia has raised $2.85 billion to fund startups and other ventures in the region, the company said in a statement.

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The company has dedicated $2 billion to India, with the remaining $850 million funds for Southeast Asia. This takes Sequoia's total committed capital in the region to $9 billion, as per the SEC filings and earlier fundraising announcements.

"Sequoia India and Sequoia Southeast Asia have collectively raised $2.85 billion across a new set of funds, including India venture and growth funds and a $850 million Southeast Asian fund - the firm's first dedicated fund for that region," the statement said.

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Sequoia has witnessed nine IPOs of companies it funded. The firm has 36 unicorns in the region, including the likes of Byjus, Zomato, Unacademy, Pinelabs and Razorpay.

"India and Southeast Asia have both grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer incomes." After USA and China, India has emerged as the third-largest startup ecosystem in the world. Southeast Asia, meanwhile, is on track to become a USD 1 trillion digital economy by 2030.

Sequoia also said that it would continue to partner with the next generation of founders, building enduring companies across seed, Series A, and growth stages.

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Sequoia has been present in India for the past 16 years and in Southeast Asia for ten. "The firm has partnered with more than 400 startups across multiple sectors, stages and market cycles and has 36 unicorns in its portfolio. Between 2021-2022, the VC firm saw nine IPOs, with notable ones like Freshworks and Zomato," the statement said.

With inputs from PTI