Venture

Sequoia Capital Filings Disclose Nearly $3.35B For New Funds Focused On The U.S. And China

On Tuesday, Sequoia Capital revealed close to $3.35 billion in dry powder for the firm to invest in U.S. and Chinese startups. These are amendments to prior disclosures by the firm from June 2018, when it first began raising capital for these funds.

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On the U.S. side, Sequoia Capital U.S. Growth Fund VIII, L.P. raised $998.5 million, according to today’s amended filing. 120 limited partners invested in the fund.

On the Chinese side, the firm closed $1.7995 billion for Sequoia Capital China Growth Fund V, L.P. and $549.5 million for Sequoia Capital China Venture Fund VII, L.P..

Sequoia’s fifth China Growth Fund is its largest yet, coming in at twice the size of its fourth. Sequoia raised $899.5 million for China Growth Fund IV between 2016 and 2017, according to Crunchbase data and news reports.

The three filings updated today were initially submitted on June 19, 2018, and they indicate that the firm closed its first hard capital commitments for the funds in the days following the filings.

On that same day, Sequoia Capital also made a filing for its sixth India-focused venture fund, which closed out $695 million in mid-August 2018. Other filings from mid-June 2018 include Sequoia Capital U.S. Venture Fund XVI and Sequoia Capital China Seed Fund I, which have yet to be updated at the time of writing.

Illustration: Li-Anne Dias

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