The Chinese branch of Sequoia Capital has raised $9 billion in fresh capital to support the country’s startups, The Information first reported†
The increase came at a time as global investors are re-evaluating risks in China amid a COVID-affected economy and an ongoing regulatory crackdown on the country’s internet startups.
The new capital came from pensions, endowment funds and family offices from the US, Europe, the Middle East and Southeast Asia, Bloomberg reported†
With the new cash injection, the company will continue to bet on Chinese startups focusing on deep tech, healthcare and consumer technology.
We have reached out to Sequoia Capital’s China for comment.
More to come…