Apparently, some apathy, which swept the sector of venture capital investment, did not affect all the “players”. Sequoia China attracted $9 billion for four funds in the field of new technologies and health care.
This pool has already been called the largest in history. Previously, no venture capital firm has managed to raise such a large infusion. It is known that the pool is aimed at Chinese techno-startups.
Sequoia China was originally going to raise $8 billion, but investors have significantly exceeded their commitments. The funds came from organizations not only in Asia, but also in Europe and the United States.
Many U.S. institutional investors are among the contributors. Despite the downturn, they are pursuing an aggressive strategy for projects with high potential.
Capital will go into four funds – Incubator Expansion Fund I, Seed Fund III, Venture Fund IX and Growth Fund VII. Specific details on the projects are not yet known. Sequoia China declined to comment.
Earlier we reported that Sequoia Capital’s Indian unit is launching two new $2.85 billion funds in the national market.