Sequoia top backer of Indian unicorns with eight bets, China’s Tencent 11th with 3 investments

MUMBAI: Venture capital fund Sequoia Capital India is the top backer of unicorns, or firms which have attained a valuation of over $1 billion, a report said on Wednesday. The India-based Sequoia has invested in eight Indian unicorns including Byju’s and Unacademcy, followed by Japanese investor SoftBank and British Steadview Capital’s seven investments each, as per the Hurun India Unicorn Investors List. Even as concerns get raised about the Chinese play in Indian startups, the report said that only one investor from the country’s northern neighbour – Tencent Holdings – features among the top unicorn backers. With three unicorn investments, Tencent was ranked joint eleventh along with six other investors that include Bennett Coleman and Company, Bessemer India Capital Holdings, Chiratae Ventures, General Atlantic Singapore, IFC and LTR Focus Fund. In the list of top investors, where each has backed at least three unicorns or more, American venture capital funds lead the way with seven investors in the list, followed by India-origin funds which have five investments, it said.