According to The Information‘s report on July 4, Sequoia Capital’s China affiliate has raised new funds totaling about $9 billion, to be used for investments in technology and healthcare. The firm received more than $12 billion in a 50% oversubscribed round.
The firm raised the money from pensions, endowment funds and family offices from the United States, Europe, the Middle East and Southeast Asia, Bloomberg reported.
According to documents of the US Securities and Exchange Commission, Sequoia Capital China has registered a new phase of US dollar funds, including a Seed Fund, a Venture Fund, an Expansion Fund and a Growth Fund. These four funds will continue to be focused on investment in science and technology, consumption and medical and healthcare.
Over the past decade, Sequoia Capital and its China affiliate have invested more than $10 billion in domestic startups, becoming a powerful brand committed to investing in the Chinese market. Sequoia Capital China is optimistic about the country’s long-term growth prospects and plans to invest in cutting-edge technologies that will help drive industries such as pharmaceuticals and healthcare, according to Bloomberg‘s report, citing individuals familiar with the matter.
According to a report by CB Insights, global venture capital decreased by 19% in the first quarter of 2022, which was the biggest quarter-on-quarter decline in the past 10 years. In this case, it is impossible for Sequoia Capital China’s new fundraising to not attract attention.