Sequoia Capital China To Raise Four New China Venture Funds


Sequoia Capital China, the venture capital firm behind some of China’s most influential tech companies, is raising four China-focused funds to raise its stake in the country’s booming economy, according to documents filed with the U.S. Securities and Exchange Commission on Wednesday.

The four new funds are Sequoia Capital China Growth V Principals Fund, Sequoia Capital China Growth Partners Fund V, Sequoia Capital China Venture Partners Fund VII, and Sequoia Capital China Venture VII Principals Fund, as per separate filings dated on January 30. Sequoia China did not disclose the target amounts for the four funds.

The predecessor funds of Sequoia Capital China Growth V Principals Fund, Sequoia Capital China Growth Partners Fund V and Sequoia Capital China Venture Partners Fund VII were all unveiled in February 2016. None of them disclosed the targeted fund sizes.

In comparison, Sequoia Capital China Venture VI Principals Fund, which was also launched in early 2016, secured US$50.19 million from 86 investors in October 2017.

Sequoia Capital China was launched in September 2005 in Beijing by investment guru Neil Shen Nanpeng and the Silicon Valley-born Sequoia Capital. The company has raised about 31 funds with US$3 billion in disclosed assets under management to date.

The company has poured money into some of the world’s valuable companies including fintech company Ant Financial, group buying website Meituan-Dianping, Chinese tech firm Bytedance and ride-hailing company Didi Chuxing. It led a US$80 million investment in Chinese biopharmaceutical company BrightGene Bio-Medical Technology Co. in early January.

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