Business
Sequoia Capital India announces new $195M seed fund
Leading venture capital firm Sequoia Capital India has closed a new $ 195 million seed fund to invest in very early-stage startups. This latest seed fund will focus on Sequoia’s Surge program, which launched in 2019 to offer $ 1 million to $ 2 million of equity in pre-Series A funding rounds, according to an announcement by Sequoia India.
A joint statement from Shailendra Singh and Rajan Anandan, both CEOs of Sequoia Capital, said: “We are pleased to announce that Sequoia Capital India recently closed its second seed fund at $ 195 million, to support the next set of founding missions driven by India and Southeast Asia. “
According to Sequoia, four cohorts have been through the Surge program in the past two years since its launch, with 69 startups spanning more than 15 industries and 164 founders from 17 different nationalities.
One-third of Surge’s startups are building SaaS products, the majority for global markets; 25 percent are creating new consumer internet businesses; 13 percent are creating consumer brands and 12 percent are in the B2B space.
It also has startups in the segments of edtech, health tech, deep-tech, fintech, and more. “We pioneered the idea of ’open architecture’ to make Surge a collaborative effort with other seed funds and angel investors, and we do not charge program fees so other investors can invest on the same terms,” the statement said. Surge’s four startup cohorts have raised a combined $ 172 million. It also has more than 100 co-investors.
News Source: YourStory
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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