VENTURE CAPITAL: DIVIDED DESTINIES

Sequoia’s decision to hive off its India operations, with the provision of a substantial war chest, promises to provide start-ups with something to cheer about in this funding winter

- BINU PAUL

IN AN UNEXPECTED turn of events, global venture capital (VC) giant Sequoia Capital decided to split into three separate entities. Each of the firm’s divisions— Sequoia Capital (US/Europe), Sequoia China, and Sequoia India & Southeast Asia—will now function autonomously under its own name. As a result of this change, Sequoia India & Southeast Asia, led by 47-year-old Shailendra Singh, will now be known as Peak XV Partners.

Sequoia Capital Managing Partner Roelof Botha says Peak XV Partners would benefit from greater autonomy to further solidify its position as a market leader. “Sequoia India has been instrumental in developing the start-up ecosystem in the country, which has now become one of the most vibrant in the world. I am very excited for Shailendra and the Peak XV team as they continue to double down on the region,” he said in a statement to BT.