Posted on

Sequoia Capital India pledges to take proactive steps amid fraud allegations at some startups



Share

Sequoia Capital India, one of the most prolific and successful investors in India and Southeast Asia, addressed the fraudulent practices allegations levelled against some of its portfolio startups and pledged to take proactive steps to do more to drive increased compliance.
In a blog post published Sunday afternoon, the storied venture fund said it’s still a “work-in-progress” and said that all players collectively have to “drive better accountability, along with improving performance, for us to unlock the full potential this region has to offer.”
The post — serving as Sequoia’s first official word on the matter — comes at a time when at least three of its portfolio startups have undertaken investigations:

Fashion marketplace Zilingo has suspended Ankit …

Read More