Media: Sequoia Capital to raise $9 billion for Chinese startup investments

The China unit of Sequoia Capital, one of the prominent investors in the cryptocurrency industry, plans to raise $9 billion across four new funds. The Information reports, citing sources.

The publication’s sources noted that the amount would exceed the initial target of $8 billion. The final amount of capital could be record-breaking for a single venture capital firm investing in Chinese technology startups.

The publication believes that the fundraising shows that Sequoia Capital China, like American institutional investors, continues to “take aggressive steps” despite the downturn in the market.

The China subsidiary of Sequoia Capital financed crypto projects such as Babel Finance, Orderly Network, Multichain, DeBank and Amber Group.

In the портфеле of the American venture firm are биткоин-биржа FTX, as well as crypto-friendly payment companies Stripe and Block (ранее Square).

In June, Sequoia invested in the NFT marketplace Magic Eden on Solana in a $130 million round.

In March, the company приняла участие в финансировании omnichain protocol LayerZero. The project raised $135 million.

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