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Sequoia Plans $9 Billion China Fundraising – FT

The amount is “nearly 170% of the total raised in the first half of this year by all China-focused private equity and venture capital groups,” the FT reported.


Sequoia is set to invest nearly $9bn in China startups.
Sequoia China founder Neil Shen speaks in Hong Kong. His venture capital group is set to plough billions into China startups. File photo: Reuters.

 

Sequoia Capital China is set to plough $9 billion into Chinese startups, seemingly unfazed by Beijing’s crackdown on big tech, its hardline zero-Covid policy and geopolitical uncertainty, the Financial Times reported.

The firm plans to close round one of its fundraising this week and added that it was 50% oversubscribed, the story said, citing a person familiar with the situation. The amount targeted would be “nearly 170% of the total raised in the first half of this year by all China-focused private equity and venture capital groups,” the report said.

Read the full report: Financial Times.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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