Sequoia Capital’s China Arm Raises $9 Billion for Four New Funds

Sequoia Capital’s Chinese affiliate is about to close $9 billion in fresh capital for four new funds, higher than its original target of more than $8 billion, according to The Information. The final amount could represent the biggest pool of capital ever raised by a single venture capital firm to bet on Chinese technology startups. The four new funds are said to include a seed fund for early-stage companies, a venture fund for startups, and two funds that invest in more established companies - a growth fund and an expansion fund. The fundraising was oversubscribed by about 50% and attracted U.S. and other global investors, including pension funds, university endowments, family offices and other funds.