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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