Sequoia Capital hitting market with six funds, including three China-focused vehicles

Neil Shen, managing partner of Sequoia Capital China. Photographer: Jason Alden/Bloomberg

US venture capital firm Sequoia Capital is in the market to raise six funds, including three China-focused funds, after closing the fundraising for the bulk of its new global investment vehicle that raised $6 billion.

Sequoia Capital, an early investor in Google Inc, Apple Inc, and other global tech giants, filed with the US Securities and Exchange Commission its intention to raise six venture-capital and growth funds in the United States, China, and India. The filing does not shed any light on the amount Sequoia intends to raise for each of these vehicles.

The funds include Sequoia Capital China Venture Fund VII, Sequoia Capital China Growth Fund V, and Sequoia Capital China Seed Fund I.

The firm did not disclose its target amount for the said funds but a Wall Street Journal report said the six funds will raise a total of at least $4.35 billion.

According to the report, China Growth Fund V seeks to raise about $1.6 billion to $1.8 billion. The amount is about twice the money raised from the previous China growth fund.

The firm is also reportedly looking for up to $500 million for China Venture VII and up to $150 million for Sequoia China Seed Fund I, its first seed fund focused on China.

Sequoia also plans to raise funds for Sequoia Capital India Venture VI, with a reported hard cap of $675 million to invest in Indonesia, Singapore, and other countries, according to the WSJ report.

Aside from the China and India funds, the firm is also raising two US-focused funds – US Venture Fund XVI and US Growth Fund VIII. The filings did not disclose fundraising targets or closing schedule of the said funds but an earlier report said the firm seeks to raise up to $1 billion for US Growth Fund VIII and up to $550 million for US Venture XVI.

Early this month, Sequoia capital closed fundraising for the bulk of its $8 billion new global investment vehicle, raising $6 billion so far to create the largest US-based venture capital fund.

According to a Bloomberg report, the commitments came largely from new investors and Sequoia aims to close the round for the firm’s investors to achieve its hard cap of $8 billion.

The venture capital firm had raised $2 billion for a global growth fund in 2016, then the largest-ever raised by the firm, according to data provider Preqin.

Sequoia, which has more than 40 years of experience, made early investments in some of the world’s most successful technology companies, including Apple Inc. Its China investments also include Alibaba Group Holdings Ltd., drone-giant DJI and ride-hailing company Didi Chuxing.

Also Read:

Sequoia-backed education startup Byju’s targets $205m revenue this year

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.