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Crypto Venture Capitalist Sequoia China Raises $9 Billion

admin by admin
July 8, 2022
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Crypto Venture Capitalist Sequoia China Raises $9 Billion
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Sequoia Capital China, the Chinese arm of the influential asset management company Sequoia Capital, plans to raise $9 billion in investment capital for several investment funds focused on Chinese startups.

On the way to this ambitious goal, Sequoia China has already generated more than the originally targeted 8 billion US dollars, as The Information reports today, July 4, citing internal sources.

In this regard, it is said that the revised up total should ultimately settle for the largest investment pool that a single venture capitalist has ever provided for Chinese tech startups.

The large round of financing shows that there is still massive interest in investing in China’s tech industry, although the global tech stock market is currently in trouble and the Chinese government has recently taken stronger action against tech companies.

Sequoia China wants to close the financing round this week, and the chances are good, because the demand from investors is great.

Above all, it is venture capitalists such as Sequoia China and Hillhouse who continue to raise funds for the Chinese market, because most American asset management and pension funds have initially paused their investments in China.

“Only Sequoia and Hillhouse can currently collect funds from international investors, because these are seen by investors as a lower risk as with an index fund,” as an investor from Beijing explains in this context.

Sequoia China, founded in 2005, is one of the largest tech investors in the world, so the venture capitalist has invested in successful projects such as the TikTok operator ByteDance.

Sequoia China has also invested in a number of crypto and blockchain companies, including the now-defunct investment firm Babel Finance, which temporarily stopped all withdrawals in mid-June. As previously reported, Sequoia Capital China was one of the leading investors in a US$40 million financing round for Babel Finance in May 2022.

Sequoia China has also been at the forefront of investments in other crypto projects such as the Debank wallet service in the past.

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