Sequoia Capital China, widely touted as a bellwether for Chinese tech investment, has made another close of its four China-focused funds, raising a combined $317.9 million in commitments, according to its latest filings.
The Chinese arm of Silicon Valley venture capitalist Sequoia Capital said it has made another close of its four funds, namely Sequoia Capital China Venture VII Principals Fund, Sequoia Capital China Growth Partners Fund V, Sequoia Capital China Venture Partners Fund VII, and Sequoia Capital China Growth V Principals Fund.
The fundraising came as the US-China trade tension rages on and US senators are calling for an investigation against a number of Chinese firms, including those that Sequoia Capital has invested in.
Sequoia Capital China Venture VII Principals Fund, a venture capital fund, has so far raised $69.1 million from 64 investors. Its predecessor fund closed at $50 million in January 2017. The filing did not specify a target for the new fund, which was launched in February 2019.
Another filing showed that Sequoia Capital China Growth Partners Fund V has so far raised $139.4 million since its launch in February 2019. The fund has already attracted 53 investors. The total offering amount has not been disclosed.
Also, the firm raised $69.6 million for Sequoia Capital China Growth V Principals Fund, with 83 investors committing to the vehicle.
In December, Sequoia Capital China, led by Doug Leone, Michael Moritz, Roelof Botha, and others, raised a total of about $2.35 billion for two China-focused funds – Sequoia Capital China Growth Fund V and Sequoia Capital China Venture Fund VII.
Sequoia Capital China Growth Fund V, the firm’s largest China growth fund to date, has gathered $1.8 billion, twice as much as the fourth fund that closed in 2017. The fund, which was launched in June 2018, has so far attracted 130 investors, the filing showed.
The firm is an investor in some of China’s most successful startups, such as Alibaba, Ant Financial, Yitu, TikTok, ByteDance, and JD.com. In the US, it has backed Google, Instagram, LinkedIn, WhatsApp, Dropbox, Snap, and many others.
It also operates in India and has offices in Singapore, Beijing, Hong Kong, and Shanghai. In August, the firm closed its sixth India and Southeast Asia-focused venture fund at $695 million.