Sequoia elevates five execs to managing director position
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Last Updated: Jul 30, 2021, 03:33 PM IST
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Synopsis
Ashish Agarwal and Harshjit Sethi from Sequoia Capital’s venture team, and Tejeshwi Sharma, Ishaan Mittal and Sakshi Chopra from the growth team will be elevated to managing-director rank.
ETtech
(From left) Ashish Agarwal, Harshjit Sethi, Sakshi Chopra, Ishaan Mittal and Tejeshwi Sharma, new managing directors of Sequoia Capital.
Mumbai: Silicon Valley’s marquee venture capital fund, Sequoia Capital, has promoted five of its executives to the position of managing director, as it further bulks up its leadership team amid unprecedented dealmaking in the country’s startup ecosystem.
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New Delhi–Leading payments and business banking platform Razorpay on Monday said it has raised $160 million led by Sequoia Capital and GIC at a market valuation of $3 billion.
With this, Razorpay that became a unicorn in October last year has tripled its valuation in under six months.
The company said that it plans to infuse fresh funds capital to scale up its business banking suite, invest in new acquisitions and go global in South-East Asian countries.
“We believe there’s a dire need to develop new banking technologies that meet the rising demand. So we plan to use these funds to further expand our banking and lending product suite so that we not only provide a better experience to businesses and their customers but significantly contribute to the growth of our partner businesses,” explained Harshil Mathur, CEO and Co-founder of Razorpay.