Difference between revisions of "Sequoia Capital"

Latest revision as of 06:11, 22 September 2024

Basics

In a short thread about VCs and dumping, Sequoia India was one of the hodlers (4-6-2022):

"Another hardcore hodler's wallet, with no user-side movement since Oct. 2021 Diamond handed dudes!"

History

Sequoia split (6-6-2023) into three firms. Sequoia China is now HongShan. Sequoia India is now Peak XV Partners. And Sequoia’s U.S. and Europe business continues as Sequoia Capital. Sequoia went global in the mid-2000s with separate funds that shared back-office functions, some LP backers, and its well-known VC brand. Now, it’ll end any back-office and profit sharing by Dec 31, and be fully separated “not later than” March 31, 2024.

Investments

Diamond handed their two biggest bets, DoorDash and Unify (non crypto) in 2021 and lost out on ~18B in profit when the stock markets started to crash in 2022. Sequoia plans to hold (21-6-2022).
From The Block (17-2-2022):

"Sequoia Capital will bet on tokens through its new crypto fund worth $500-600 million. The VC firm will also actively manage tokens, from staking them to providing liquidity to participating in governance."

From Forbes (18-10-2020):

"Known for investing in companies from Apple and Google to WhatsApp and Stripe."

Bitclout; it's founder has mentioned this fund as an investor (23-3-2021).
Certik; was mentioned as one of Certik investors (19-9-2024).
Espresso Systems; is mentioned on their website as an investor, while the project has no tokens out yet (25-10-2022).
IOStoken.
FTX; participated as one of the 69 investors in the $420M round (22-10-2021). They marked down their investment to 0 after the FTX collapse (11-2022). The size turned out to be $150M. Got updated to $210M (10-12-2022). They were also listed as one of the creditors of FTX (26-1-2023).
Huobi; invested in their second funding round in 2014.
LayerZero; part of the Series A of $135 million (31-3-2022). Also participated in their Series B (4-4-2023).
Nervos Network. Invested in Nervos Network (22-1-2020).
Neutral Dollar. Supports The Neutral Dollar.
Paradigm. Invested in Matt Huang's Paradigm (18-10-2020).
StarkWare; according to DeFi Weekly (9-3-2021). Again part of a $75M raise (24-3-2021). Took part in the Series C raise of $50m (17-11-2021).
Twitter; committed $800M to finance Elon Musk's takeover (5-5-2022).

Team

Matt Huang; former Sequoia Capital partner
Neil Shen; managing partner at Sequoia China
Member of Open DeFi (2-9-2020).
Is mentioned as a partner on Ontology's website (2-11-2020).
Mentioned (13-7-2021) as part of the Investor Network of Asia DeFi Network (ADN).

@@ Line 4: / Line 4: @@
 ''"Another hardcore hodler's [[wallet]], with no user-side movement since Oct. 2021 [[Diamond hands|Diamond handed]] dudes!"''
+== History ==
+* Sequoia [https://twitter.com/alexrkonrad/status/1666030203015921664 split] (6-6-2023) into three firms. Sequoia China is now [[HongShan]]. Sequoia India is now [[Peak XV Partners]]. And Sequoia’s U.S. and Europe business continues as Sequoia Capital. Sequoia went global in the mid-2000s with separate funds that shared back-office functions, some LP backers, and its well-known VC brand. Now, it’ll end any back-office and profit sharing by Dec 31, and be fully separated “not later than” March 31, 2024.
 == Investments ==
@@ Line 12: / Line 16: @@
 ''"Known for investing in companies from [[Apple]] and [[Google]] to WhatsApp and [[Stripe]]."''
 *[[BitClout (BTCLT)|Bitclout]]; it's founder has [https://www.coindesk.com/what-is-bitclout-the-social-media-experiment-stoking-controversy-on-twitter mentioned] this fund as an investor (23-3-2021).
+*[[CertiK (CTK)|Certik]]; was [https://x.com/CertiK/status/1836724497178591302 mentioned] as one of Certik investors (19-9-2024).
 *[[Espresso Systems]]; is [https://www.espressosys.com/about#s4 mentioned] on their website as an investor, while the project has no tokens out yet (25-10-2022).
 *[[IOStoken (IOST)|IOStoken]].
 *[[FTX (FTT)|FTX]]; [https://news.bitcoin.com/ftx-raises-420-million-in-series-b-1-crypto-exchange-commands-25-billion-valuation/ participated] as one of the 69 investors in the $420M round (22-10-2021). They [https://techcrunch.com/2022/11/09/sequoia-capital-marks-its-ftx-investment-down-to-zero-dollars/ marked down their investment to 0] after the FTX collapse (11-2022). The size turned out to be [https://www.theblock.co/post/189301/sequoia-capital-apologizes-to-investors-after-150-million-ftx-loss-wsj $150M]. Got updated to [https://www.mollywhite.net/etc/ftx-contagion $210M] (10-12-2022). They were also listed as one of the [https://decrypt.co/120029/ftx-creditors-apple-netflix-coinbase-court-documents-reveal creditors] of [[FTX (FTT)|FTX]] (26-1-2023).
 *[[Huobi (HT)|Huobi]]; [https://en.wikipedia.org/wiki/Huobi invested] in their second funding round in 2014.
-*[[LayerZero (Project)|LayerZero]]; part of the Series A of  [https://www.coindesk.com/business/2022/03/30/a16z-ftx-and-sequoia-lead-155m-round-for-layerzero-at-1b-valuation/ $135 million] (31-3-2022).
+*[[LayerZero (Project)|LayerZero]]; part of the Series A of  [https://www.coindesk.com/business/2022/03/30/a16z-ftx-and-sequoia-lead-155m-round-for-layerzero-at-1b-valuation/ $135 million] (31-3-2022). Also [https://techcrunch.com/2023/04/04/blockchain-messaging-protocol-layerzero-raises-120m-hitting-3b-valuation/ participated] in their Series B (4-4-2023).
 *Nervos Network. [https://messari.io/asset/nervos-network/profile Invested] in [[Nervos Network (CKB)|Nervos Network]] (22-1-2020).
 * [[Neutral]] Dollar. [https://blog.neutralproject.com/posts/2019/05/14/what-is-neutral.html Supports] [[The Neutral Dollar]].