‘Excited for Shailendra and Peak XV,’ says Sequoia's Roelof Botha

After Sequoia Capital's split from its India and China operations, Roeloff Botha, Managing Partner of Sequoia Capital has said that Peak XV (formerly Sequoia India) will be able to strengthen its market leadership as it will now have the flexibility to operate independently.

In a statement shared with Business Today, Botha said: "Operating as an independent firm will provide more flexibility to further strengthen the market leadership position."

He also added that he is “excited” for the team. “I am very excited for Shailendra and the Peak XV team as they continue to double-down on the region," said the Managing Partner of Sequoia Capital.

In his statement, Botha also highlighted that according to him, India has one of the most vibrant startup ecosystems in the world.

“17 years ago, Sequoia saw an opportunity in India as a promising market for startups and entrepreneurship. Since then, Sequoia India has been instrumental in cultivating the startup ecosystem in the country, which has become one of the most vibrant in the world,” said Botha. 

Sequoia Capital announced last week that its India and China funds would split and would operate independently due to portfolio conflict and market confusion. Sequoia China’s fund worth $56 billion would be led by Neil Shen, and would be called Hong Shan. 

Botha wrote in a blogpost at the time of the split, “It has become increasingly complex to run a decentralized global investment business.”

“This has made using centralized back-office functions more of a hindrance than an advantage. Additionally, as each entity’s portfolio has expanded to include companies that are becoming global leaders, we’ve seen growing market confusion due to the shared Sequoia brand as well as portfolio conflicts across entities,” he added.

Botha’s comments were challenged by venture capitalist Chamath Palipathiya over the weekend in the All-In podcast. Palipathiya said, “Sequoia has always been known to fund everybody that they think will make money no matter how much they compete, no matter where they are. Sequoia as an organisation is elite. They're there to make money for their LPs.”

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