Sequoia Capital raises $318m for four China-focused funds

Chinese Yuan notes. Photo: Reuters

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.

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.