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Sequoia Capital launches 2 new funds with focus on Web 3 – News

For the past few months, due to the worldwide slowdown, funding for startups has decreased. However, investment firm Sequoia has stepped up the funding. Its two units Sequoia India and Sequoia Southeast Asia have launched two new funds. One of these is a venture and growth fund with an initial investment of $2 billion for India and another $850 million fund for South East Asia.

Sequoia plans to expand its business in South East Asia. These funds will invest in crypto as well as Web 3 startups. Sequoia has a blog post “The Web 3 ecosystem is growing rapidly in markets such as Malaysia, Thailand, Vietnam and the Philippines. With the new fund, Sequoia Southeast Asia will invest in early-stage and growth-oriented firms in the region,” it said in a statement. Despite the lack of clarity on the regulatory situation, Sequoia plans to expand into new areas such as Web 3.

Due to the lack of regulations in India regarding the crypto segment, venture capital firms avoid investing in startups belonging to this segment. However, Sequoia India and its division for South East Asia have funded many such startups in the country. These include CoinSwitch Kuber and Polygon. The last two years saw Sequoia India tie up with three additional funds. These include a seed funding round in March last year in which $195 million was raised.

The Metaverse and NFT gaming segments have seen a boom in the past few months. Investment firm Andreessen Horowitz has given a fund of $ 600 million to increase research and development related to them. Announcement is of. This fund pool is being called ‘Game Fund One’ and will focus on game studios and gaming infrastructure providers. With this, the venture capital fund for the Web3 gaming industry has grown to nearly $3 billion. “We believe gaming infrastructure and technologies will make a big contribution to the metaverse,” US firm Andreessen Horowitz said in a blog post. The funds will be given to developers working on enhancing interactive experiences in the metaverse and blockchain games.

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