Sequoia Capital China was the most active investor in the country’s startups last year, with 83 deals in its kitty. Of these, it was the lead investor in at least 36 deals, as reported in DealStreetAsia’s China Deal Review: Q4 2020 report.
This does not include the deals of Sequoia China Seed Fund or Sequoia Capital.
In fact, Sequoia Capital China’s deal activity was head and shoulders above that of Matrix Partners China — the second most active investor that sealed 46 deals in the year.
Source: DealStreetAsia R&A report
Even as Chinese startups raised $56.2 billion across 1,193 transactions, the total value of all Sequoia Capital China deals aggregated to over $12.9 billion in 2020.
The 36 deals that the PE firm led amounted to $3.2 billion in value, of which 16% was in the Series E stage.
Among the big-ticket deals, Sequoia Capital China was a lead investor (along with Fidelity, and SoftBank Vision Fund) in the $1.7 billion fundraising round by Full Truck Alliance Group in November. It also led Lalamove’s $515 million Series E round in December.
Fund raisings where Sequoia Capital China was the lead investor in 2020
|Startup||Investment size (Million $)|
|Full Truck Alliance Group/Manbang Group||1700|
|LP Pharmaceuticals (Xiamen)||72|
|Shanghai Encoo Technology||30|
|Sunyur Network / Beijing Sunyur Network Technology||14|
|Pudu Technology (PuduTech)||14|
|Yunjing (Narwal) Intelligence Technology (Dongguan)|
Twenty-six of Sequoia Capital China’s portfolio firms also had their IPOs in 2020. Among the popular ones were the US listings of KE Holdings, and Xpeng, besides the Hong Kong listings of JD Health International, and Pop Mart.
For more data on China’s fundraising in 2020, please refer to our Research & Analytics report.