Daily Management Review

Sequoia Capital plans on raising $8 billion from China


01/31/2018


The huge amounts of funds being sunk into the tech sector have necessitated for bigger war chest.



Sources familiar with Sequoia Capital’s plans have disclosed that the early investor, who had invested in global tech giants including Apple and Google at their infancy, aims to raise $8 billion from Chinese investors.
 
“There is so much money now (in the tech sector). You need to have a bigger war chest,” said a Hong Kong-based investment banker familiar with Sequoia’s strategy.
 
Sequoia is already drawing eyeballs in China from domestic institutional investors, wealth management firms, insurers who are looking to boost returns in alternative assets, said sources.
 
Neil Shen, one of the best-known venture capitalists in China who is also Sequoia’s China founding partner, is actively tapping potential investors including state-backed ones for Sequoia’s global fund, said sources on the condition of anonymity since the fund raising plans are confidential.
 
Sequoia declined to comment on the fund raising.
 
For its new global fund, the firm is also tapping investors from Japan and the Middle East among other regions, said a source.
 
As per another source, Sequoia will continue to focus on sectors ranging from healthcare, technology, consumer goods and media, notably in India, China and the United States.
 
Two other sources stated Sequoia’s China arm, founded in 2005 by Shen, also aims to raise $2.37 billion (15 billion yuan) in its fifth yuan-denominated fund, which it will invest in local start-ups.
 
References:
reuters.com







Science & Technology

What trends will be affecting the health sector in the coming years?

Deloitte identifies main cyber threats for power industry

Zenuity To Take Self Driving Car Road Test In Sweden With Permission

Researchers: Half of Facebook users is fake

Amazon’s Ring gets in a privacy scandal

Facebook Is Creating A Stablecoin For Its WhatsApp Users

IBM offers to use the first quantum computer

Passport Numbers Of 5 Million Customers Hacked: Concedes Marriott

China Lifts Approval Freeze On New Video Games Launch

Concentrated Solar Plant System To Dispatch Electricity To The Grid On Demand

World Politics

World & Politics

Far-right and Catalonia: New elections in Spain

Trump is losing rating because of shutdown

Hanoi, Vietnam Chosen As Place For 2nd Summit Between Trump And Kim Jong-Un

US, China to hold new negotiations in Beijing

Human Rights Not To Be Dissociated From Stability, Macron Tells Sisi

Brexit Hijack Is Not The Parliament’s Right

Macedonia ignites political crisis in Greece

Brazil turns right