The global venture capital firm said it had become increasingly complex to run a global business, and that the split would be completed by March 2024.
Venture firm Sequoia Capital is dividing its global business into three independent entities for the U.S. and Europe, China, and Southeast Asia and India.Sequoia is one of the world's top venture funds, with past investments in Apple, Google, Paypal and Zoom.Sequoia Capital, one of the world's largest venture firms,Tuesday morning it would divide its global partnership into three separate and independent geographic units, for China, the U.S.
Sequoia partners Roelof Botha, Neil Shen, and Shailendra Singh delivered the update to their limited partners via a joint message. Botha is managing partner for Sequoia's U.S. and Europe business, while Shen and Singh run Sequoia's China and Southeast Asia businesses, respectively."To deliver on our mission, we have decided to fully embrace our local-first approach," the three partners told their investors.The U.S. firm will retain the Sequoia branding.
"It has become increasingly complex to run a decentralized investment business," the executives wrote in their message to investors. "We've seen growing market confusion due to the shared Sequoia brand as well as portfolio conflicts across entities." Sequoia is one of the world's top venture funds, with notable investments in Apple, Google, Paypal, and Zoom.This is breaking news. Please check back for updates
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