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Sequoia Capital’s seed fund Surge backs 20 startups

Investors pick up startups at seed stage as more angels step in.

, ET Bureau|
Oct 09, 2019, 08.05 AM IST
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Earlier this year, Sequoia Capital had raised $100-150 million separately for Surge which invests in startups across consumer internet, education tech, social commerce, among others.
BENGALURU: Sequoia Capital has backed 20 companies for the second cohort of its seed-stage fund, Surge, in participation with venture funds and angels including Lightspeed Venture Partners, Nexus Venture Partners, Omdiyar Network and Blume Ventures, among others.

Earlier this year, Sequoia Capital had raised $100-150 million separately for Surge which invests in startups across consumer internet, education tech, social commerce, fintech, SaaS, among others.

“Around 80% of Surge 02 startups are coming onboard with co-investors, collectively raising upwards of $45 million in Surge rounds,” a Surge spokesperson said. Companies in the batch across SouthEast Asia and India include Airalo, Bijak, Brick&Bolt, Chilibeli, Classplus, Cognicept, Freewill, Hevo Data, InVideo Juno, Log9 Materials, Klub, Perro-Mart, Quolum, Rheo TV, Rutika, Storie, Trell, Yours, among others. The fight for seed and early stage investments across top venture funds, including Accel Partners, Matrix Partners, Nexus VP and others, is intensifying with funds doubling down their focus on seed deals by either launching accelerators and launchpads to mentor and handhold founders, or redefining management structures to exclusively focus on seed deals.

From its first batch at Surge, Khatabook has already raised an additional $25 million from Tencent, GGV, Partners of DST in less than six months.

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