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 75 days ago
 Source: economictimes.indiatimes.com

Sequoia seeks to raise $7 billion for new funds as markets reel

Quick Summary

Sequoia Capital is seeking to raise about $7 billion for a set of venture funds, according to a person familiar with the situation. The coronavirus pandemic has sent stock markets tumbling and has economists warning of a global recession. Sequoia, a firm with a nearly 50-year track record whose funds are typically oversubscribed, is better suited than many rivals to raise capital in this environment. “I think a lot of funds have plenty of cash to invest,” he said. If you fundamentally have a good business, I believe you will get funded.”Two years ago, Sequoia raised more than $6 billion for a separate global growth fund.

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