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Jul 5, 2022
by Usha Yadav
Sequoia Capital's China Arm Raises $9 Billion for Four New Funds
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The Information cited insiders saying that Sequoia Capital's Chinese division plans to raise $9 billion for four new funds. According to the newspaper, the figure exceeds the company's initial objective of more than $8 billion. If true, it would represent the largest sum of money a single venture capital firm has raised to finance investments in Chinese startups. The total sum might be the largest money ever collected by a single venture capital organization to invest in Chinese technology businesses.
Currently, the VC firm's portfolio includes unicorns such as Gojek, Tokopedia, Traveloka, and Kopi Kenangan. According to another report, the four new investment vehicles are:
Sequoia's Courageous Position
The announcement was made less than a month after Sequoia revealed that it would raise US$2.9 billion for venture capital investments in Southeast Asia and India, of which US$850 million would be allocated to the region. The action shows Sequoia's courageous position in the face of a supposedly global "funding winter" for Internet entrepreneurs.
"Global venture investment fell by 19 percent from the prior quarter to reach US$143.9 billion in the first quarter of 2022, the most significant quarter-over-quarter decrease in a decade," according to a report by CB Insights.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.