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Headline : Sequoia was rattled by geopolitics. Chinese firms know what that’s like.

Read more from the original article on here at qz.com.




Tags : #sequoia #rattled #geopolitics #chinese #firms #know #thats #like


No. of Paragraph 30

Sequoia Capital is no longer in charge of the China venture capital business it has built over nearly two decades.

The US venture capital behemoth has decided to split off its Chinese and Indian/southeast Asian businesses into two independent firms, it said yesterday (June 6). The US and European business will continue to be known as Sequoia Capital.

The non-US units have largely been quasi-independent in their decision-making, but the territorial reach of their portfolio companies have often overlapped, and revenue has been shared. The arm investing in Indian and southeast Asian companies has contributed much less than the Chinese entity, so forgoing the latter’s income will hurt Sequoia more.

Still, Sequoia felt the need to hive these units off. In recent years, covid-19 lockdowns, heightened governmental scrutiny of tech startups, and rising geopolitical frictions between the US and China have clouded the environment for fundraising and investment.

Read more from the original article on here at qz.com.


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