Venture capital’s biggest global brand is breaking up, with Sequoia’s China and India and Southeast Asia funds relaunching as new firms HongShan and Peak XV Partners.
By Alex Konrad, Forbes Staff
The world’s most storied global venture capital firm is breaking itself up. Sequoia, known for early investments in U.S. tech companies such as Airbnb, WhatsApp and Zoom in the U.S., as well as international heavyweights like ByteDance and GoTo via its China and India funds, is splitting into three fully distinct firms.
Sequoia’s global leadership confirmed the news in a letter to limited partners on Tuesday morning signed by the leaders of the three firms, Roelof Botha, Neil Shen and Shailendra Singh. The resulting firms — Sequoia Capital representing the U.S. and Europe, HongShan in China and Peak XV Partners in India and Southeast Asia — plan to complete the separation “no later than” March 2024.
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