Sequoia postpones close of $2.8 B India-SEA fund amid probe into portfolio firm

Sequoia Capital has postponed the closing date of its $2.8 billion India and Southeast Asia (SEA) fund on the back of alleged financial irregularities and corporate governance misses at some of its portfolio firms. The move has been communicated to Sequoia's limited partners (LPs) which are typically US university endowment funds and blue-chip pension funds.