New Delhi, June 14 : Sequoia Capital India and Southeast Asia (SEA), now known as Peak XV Partners, will now operate as an independent firm that will provide more flexibility to further strengthen the market leadership position, Sequoia Capital's Managing Partner Roelof Botha said on Wednesday.

Sequoia India and SEA is the largest venture capital firm in the region, managing over $9.2 billion across 13 funds.

"Sequoia India and SEA have flourished under Shailendra Singh's leadership and we are proud of the portfolio's scale, quality and strength. Operating as an independent firm will provide more flexibility to further strengthen the market leadership position," Botha said in a statement.

"Since then, Sequoia India has been instrumental in cultivating the startup ecosystem in the country, which has become one of the most vibrant in the world. I am very excited for Shailendra and the Peak XV team as they continue to double down on the region," he added.