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Sequoia is on the verge of finalizing its first deal in India and the wider Asia Pacific region since parting ways with former partners, according to insider sources. The venture capital giant is reportedly in advanced discussions to back Vance, a Bengaluru-based cross-border payments startup. If the deal goes through, it would mark Sequoia’s first move post-split with Sequoia India and Southeast Asia last year. The company also bid farewell to its China unit, now known as HongShan, amidst geopolitical tensions.
Tech and VC heavyweights are now setting their sights on Disrupt 2025, with Sequoia’s UK team proposing a significant funding round for Vance. The startup, backed by Y Combinator and Hummingbird, offers a financial services app tailored for Indians abroad. Users can send money to India, invest in Indian stocks, and mutual funds through the platform, which is processing nearly $1 billion in annualized payments.
Despite the speculation, both Sequoia and Vance have declined to comment on the matter.
