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Crypto venture capitalist Sequoia China raises $9 billion

 


Sequoia Capital China, the Chinese arm of influential wealth manager Sequoia Capital, is set to raise $9 billion in investment capital for multiple investment funds focused on Chinese startups.


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


The revised total should end up being the largest pool of investments that a single venture capitalist has ever committed to Chinese tech startups.


The large round of financing shows that there is still massive interest in investing in China's tech industry, even though the global tech stock market is currently in dire straits and the Chinese government has recently cracked down on tech companies .


Sequoia China aims to complete the financing round this week , and the chances of doing so are good given the strong investor demand.


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


"Only Sequoia and Hillhouse can currently collect money from international investors, because investors see this as a lower risk than with an index fund," as an investor from Beijing explains in this context.


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


Sequoia China has also invested in a number of crypto and blockchain companies, including the now troubled investment firm Babel Finance, which temporarily halted all payouts in mid-June. As previously reported, as recently as May 2022, Sequoia Capital China was among the lead investors in a $40 million financing round for Babel Finance.


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

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