Sequoia Capital, one of the world’s leading venture capital firms, has marked up the valuation of its 2020 Sequoia Capital US Venture VII fund by 24.6% as of June 2024, according to a report by DealStreet Asia citing data from PitchBook.
The fund, which was launched in 2020 and closed in 2022 with $808m in assets, has seen a nearly 30% increase in its value over the past two years, based on analysis from the Regents of the University of California’s endowment.
Beyond the 2020 US flagship fund, Sequoia has also marked up six of its US and global venture funds by an average of 11.3% between June 2023 and June 2024. Notably, four of these funds focus on India: Sequoia India Seed II (+14.95%); Sequoia India VI (+12.23%); Sequoia India Seed Fund I (+10.62%); and Sequoia India Growth III (+6.84%).
In June 2023, Sequoia Capital underwent a significant restructuring, separating its India, US, and China operations. The Indian business was rebranded as Peak XV Partners, while its Chinese operations now operate under the name HongShan.
In the same year, Peak XV Partners raised $2.8bn — the largest fund ever raised for India — of which $2bn was allocated to India-focused investments. However, Peak XV recently decided to reduce the size of its 2022 fund by 16%, citing the high valuations in the public markets as a reason for the adjustment.
Globally, Sequoia Capital manages over $85bn. As part of its restructuring efforts, the firm split its business into distinct divisions for China, the US, and Europe. In May 2024, Sequoia also participated in a $6bn Series B funding round for xAI, the artificial intelligence startup founded by Elon Musk.
