Sequoia Capital China is reportedly seeking to raise $1.2 billion for its inaugural dollar fund post spin-off

BlockBeats News, August 18th - According to sources familiar with the matter, Sequoia Capital China has held preliminary discussions with investors on multiple funds, including its first-ever USD fund since its establishment. The sources said the investment firm is in talks to raise at least $1.2 billion for an early-stage investment fund to support companies in the AI, healthcare, and consumer sectors.

Sequoia Capital China has been led by Neil Shen since 2005. They also mentioned that Sequoia Capital China is considering establishing a growth fund, but the specific timing and size are yet to be determined. One person added that the company is also contemplating a RMB-denominated fund.

This fundraising will test the appeal of this China-focused veteran investment institution. After the split, the three entities under the Sequoia brand have essentially operated independently, with one focusing on the US and Europe, one on China, and the third on India and Southeast Asia. Following the split, the Chinese branch ultimately adopted HSG as its English name, investing in AI startups such as USTech, Minimax, and DarkMoon. (Finance Associated Press)