In a conversation with Moneycontrol ahead of the release of his memoir, former SoftBank executive Alok Sama talks about his days at the fabled tech conglomerate — and betting on companies such as WeWork, Paytm, Ola, OYO, Arm and Nvidia
Sources said that this permanent capital vehicle will have the Peak XV team's own capital and not raise any cash from LPs
“There's a ton of opportunity and we're just scratching the surface,” said the venture capitalist who led Sequoia Capital for over 25 years
The startup plans to utilise the funding towards product building and hiring across teams like product development, technology, analytics, and support functions.
Cofounder Aneesh Reddy said that the firm has reached the break-even stage and expects to have 10% more free cash in the next few quarters. The company reported an operating revenue of Rs 163.3 crore, up nearly 42 percent in FY22.
Peak XV head Shailendra Singh told Reuters in June that the firm’s "biggest challenge” after the split is to explain changes to founders.
The Peak XV Partners managing director says governance is not even negotiable. It is equal to reputation and good reputation translates to better investors, better value when you go public
Byju's crisis: 'Board members leaving en-masse also typically means people trying to protect their reputation,' Indian-American businessman Kanwal Rekhi said.
Sequoia's funding of a technology that aims to use hydrogen creation on the battlefield signals the latest interest from Silicon Valley investors in backing technologies that bolster U.S. national security and working with the Department of Defense.
The Biden administration is widely expected to sign an executive order soon that will ban American investments in advanced technologies in China. Breaking itself into three entities is Sequoia’s answer to de-globalisation. In late-2021, Sequoia had similarly reconfigured itself to beat hedge funds crossing over to venture capital
The India and Southeast Asia arm has been rebranded as Peak XV Partners and will now operate as a fully independent firm.
Bleak funding prospects, operational inefficiency and the pressure to grow rapidly have slowed DeHaat’s relentless march. Moneycontrol spoke to stakeholders, industry watchers, and experts to get a closer look at the troubles that are dogging the agritech ‘soonicorn’.
Affected employees who put out public posts on social media said that they were terminated due to restructuring within the company. Practo, however, denied any such restructuring.
High single-digit EBITDA will be required for startups planning initial public offerings, says Sequoia India Managing Director Rajan Anandan
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In the latest headache for Sequoia Capital India, a due diligence run by EY on its portfolio company GoMechanic for other prospective investors had unearthed bookkeeping improprieties, missteps the startup’s co-founder accepted in a public statement last week.
GoMechanic had all the right mix to be a pioneer in the garage services business. It had the first-mover advantage, IIM A-graduate founders, big names of the VC world either invested or interested, a strong customer base, and a network of nearly 1,000 garages across 40 cities in place. Yet things went downhill.
Spark 02 founders will also have access to select Surge sessions and get mentorship from Sequoia India and Southeast Asia portfolio specialists across hiring, product, legal, finance, product, technology, and marketing
This comes as B2C K-12 online edtech startups in India have been suffering post-pandemic with demand falling, while those operating in the B2B edtech segments witnessed tailwinds of growth with schools more open to adopting innovation.
The average deal size of late-stage transactions (investment into companies that are over 10 years old, or Series G or later rounds of institutional investments) fell 39 percent to $90 million in 2022 from $148 million last year.
In a statement, the company said it will use the capital raised for the growth of in-house D2C (direct-to-consumer) brands, increase offline distribution, expand international operations, and make select acquisitions.
Prismforce will be utilising the funds to enhance its product suite, strengthen go-to-market capabilities and grow its talent base
The firm plans to utilise the funds towards expansion of Reasearch and Developement, product and go-to market teams across the three offices in US, Singapore, and India.
The startup plans to utilise the funding to enhance and develop Privado’s technology stack, build out the team and grow its open-source community.
Nearly half of the companies were pre-launch when Surge partnered with them.