Sequoia China to raise $6b new fund with state-owned VC,

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

Sequoia Capital China is teaming up with a state-owned venture capital (VC) fund and e-commerce powerhouse to raise up to 40 billion yuan ($5.81 billion) for a new investment firm to focus on late-stage tech investments, sources said.

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