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.<\/p>\n
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.<\/p>\n
The publication believes that the fundraising shows that Sequoia Capital China, like American institutional investors, continues to \u201ctake aggressive steps\u201d despite the downturn in the market.<\/p>\n
The China subsidiary of Sequoia Capital financed crypto projects such as Babel Finance<\/a>, Orderly Network<\/a>, Multichain<\/a>, DeBank<\/a> and Amber Group<\/a>.<\/p>\n In the \u043f\u043e\u0440\u0442\u0444\u0435\u043b\u0435<\/a> of the American venture firm are \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0431\u0438\u0440\u0436\u0430 FTX<\/a>, as well as crypto-friendly payment companies Stripe and Block (\u0440\u0430\u043d\u0435\u0435 Square<\/a>).<\/p>\n In June, Sequoia invested in the NFT marketplace Magic Eden on Solana in a $130 million round.<\/p>\n