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The Chinese arm of venture capital firm Sequoia Capital, one of the leading investors in the cryptocurrency industry, plans to raise $9 billion in four new funds. Reported
The Chinese arm of venture capital firm Sequoia Capital, one of the leading investors in the cryptocurrency industry, plans to raise $9 billion in four new funds. Reported by The Information citing sources.
The interlocutors of the publication stated that the amount will exceed the original target of $ 8 billion. The final capital amount could be a record ever raised by a single venture capital firm to invest in Chinese tech startups.
The fundraising shows that Sequoia Capital China, like US institutional investors, continues to “make aggressive moves” despite the market downturn, according to the publication.
The Chinese branch of Sequoia Capital has funded crypto projects such as Babel Finance, Orderly Network, Multichain, DeBank, and Amber Group.
The portfolio of the American venture capital firm includes cryptocurrency-friendly payments firms Stripe and Block (formerly Square), as well as the FTX bitcoin exchange.
Recall that in June, Sequoia made a $130 million investment in the Solana-based Magic Eden NFT market.
In March, the company was involved in financing the LayerZero omnichain protocol. The project raised $135 million.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
