Sequoia, one of the world's largest venture capital firms, is on the verge of making its first deal in India and the broader Asia Pacific region since its split with former partners, according to four sources familiar with the matter. The investor is in advanced talks to back Vance, a Bengaluru-based cross-border payments startup, the sources said, requestinging anonymity as the deliberation is ongoing and private.

If the deal materializes, it would be the firm's first since splitting with Sequoia India and Southeast Asia mid-last year. The former Sequoia unit later rebranded as Peak XV Partners. Sequoia also parted ways with its much-celebrated China unit, run by Neil Shen, amid growing geopolitcal tensions between Washington and Beijing. The former China unit has rebranded as Hong Shan.

All three firms are showing signs of entering one another's territory. FT reported earlier this week that Hong Shan is pursuing deals in Europe and North Asia as it struggles to deploy its $9 billion corpus. Peak XV Partners has meanwhile set up a team in the U.S. and intends to invest in U.S.-based startups, according to separate sources familiar with the company's plans. The firm invested in an Australian startup last year.

Sequoia head Roelof Botha recently commented on the firm's decision to split from India and China units, stating that "Our teams in India and China have built spectacular businesses." Botha added, "But the decision to split from India and China units is among crucible moments — one or two decisions a year that have enormous outcomes for the company. [It's] not a decision we can undo two years later and go, 'Oops, sorry, we should go back to being one firm.'"