Sequoia Capital raises $50.2m for China-focused fund

A Benjamin Franklin U.S. 100-dollar banknote and a Chinese 100-yuan banknote depicting the late Chinese Chairman Mao Zedong, are seen in a picture illustration in Beijing

Sequoia Capital has raised nearly $50.2 million for its China-focused fund, the global venture capital firm said in a stock exchange filing.

About 86 investors have so far backed the Sequoia Capital China Venture VI Principals Fund, which was incorporated and started fundraising in 2016.

This portal had earlier reported that the Silicon Valley VC firm aims to raise up to $550 million for this vehicle.

Meanwhile, Sequoia has raised $899.5 million for its Sequoia Capital China Growth Fund IV, which received support from 110 LPs.

In 2015, it had closed a $625-million China growth fund, a year after raising a $450-million China venture fund.

Sequoia China focuses on investments in media, healthcare, consumer service and industrial technology. The firm has backed more than 300 Chinese businesses, including Alibaba, Dianping, Didi, JD.com, Sina.com and Noah Holdings, since its establishment in the country in 2005.

Its China-based investments range from $100,000 to $1 million in seed companies, $1 million to $10 million in early venture, and between $10 million and $50 million in growth companies.

Also read:

Sequoia Capital raises $2b for global fund; tops up India, China growth vehicles

China’s Noah Holdings repurchases Sequoia’s stake in asset management unit

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.