China Top Venture Capital Firm HongShan Raised New $2.4 Billion (CNY 18 Billion) Fund in 2024 March, HongShan was Formerly Sequoia Capital China Founded by Neil Shen that was Separated & Renamed in 2023
11th July 2024 | Hong Kong
China top venture capital firm HongShan raised a new $2.4 billion fund (CNY 18 Billion) in 2024 March. HongShan was formerly Sequoia Capital China (founded by Neil Shen), that was separated & renamed in 2023. In 2023, Sequoia Capital ($85 billion AUM) announced to split into 3 entities by 2024 March, forming the new Sequoia United States & Europe, HongShan for China, and Peak XY Partners for India & Southeast Asia. Sequoia is the main brand for 3 independent operating funds United States & Europe, China, and India & Southeast Asia. Sequoia China will be renamed Hongshan in English and retain the Chinese name, and Sequoia India and Southeast Asia will be renamed Peak XY Partners. Sequoia Heritage and Sequoia Capital Global Equities will continue using the Sequoia brand. Sequoia Capital manages around $85 billion in 2022, Hongshan (Sequoia China) manages around $56 billion and Peak XY Partners (Sequoia India and Southeast Asia) manages around $9 billion. Sequoia Capital was founded in 1972 by Don Valentine with a $3 million fund, backing Apple and video game pioneer Atari. Sequoia Capital is also an early investor in many of the world’s top technology companies including Cisco, Google, Instagram, Airbnb and Stripe.
“ China Top Venture Capital Firm HongShan Raised New $2.4 Billion (CNY 18 Billion) Fund in 2024 March, HongShan was Formerly Sequoia Capital China Founded by Neil Shen that was Separated & Renamed in 2023 “
China Top Venture Capital Firm HongShan Raised New $2.4 Billion (CNY 18 Billion) Fund in 2024 March, HongShan was Formerly Sequoia Capital China Founded by Neil Shen that was Separated & Renamed in 2023
Top $85 Billion Venture Capital Sequoia Capital to Split into 3 Entities by 2024 March, Sequoia United States & Europe, HongShan for China, and Peak XY Partners for India & Southeast Asia
6th June 2023 – Top venture capital firm Sequoia Capital ($85 billion AUM, Assets under Management) has announced to split into 3 entities by 2024 March, forming the new Sequoia United States & Europe, HongShan for China, and Peak XY Partners for India & Southeast Asia. Sequoia is the main brand for 3 independent operating funds United States & Europe, China, and India & Southeast Asia. Sequoia China will be renamed Hongshan in English and retain the Chinese name, and Sequoia India and Southeast Asia will be renamed Peak XY Partners. Sequoia Heritage and Sequoia Capital Global Equities will continue using the Sequoia brand. Sequoia Capital manages around $85 billion in 2022, Hongshan (Sequoia China) manages around $56 billion and Peak XY Partners (Sequoia India and Southeast Asia) manages around $9 billion. Sequoia Capital was founded in 1972 by Don Valentine with a $3 million fund, backing Apple and video game pioneer Atari. Sequoia Capital is also an early investor in many of the world’s top technology companies including Cisco, Google, Instagram, Airbnb and Stripe.
Peak XY Partners: “We are excited to share that Sequoia India & Southeast Asia (SEA) will rebrand to Peak XV Partners and will operate as a fully independent firm. Our new name, Peak XV was the original name given to Mount Everest. To us, it signifies the relentless pursuit of audacious goals by our founders, while overcoming challenges along the way. It’s a new beginning for us as Peak XV, but unlike most beginnings, this is an opportunity for us to build on top of the foundation laid over the last 17 years. Our firm will continue to be managed by the present leadership team and will continue to invest from the most recently raised set of funds focused on India and SEA.
Sequoia Capital History
Sequoia Capital was founded in 1972 by Don Valentine with a $3 million fund, backing Apple and video game pioneer Atari. Sequoia Capital is also an early investor in many of the world’s top technology companies including Cisco, Google, Instagram, Airbnb and Stripe.
In 1972, when Don Valentine founded Sequoia Capital, the term “Silicon Valley” was less than two years old. A veteran of the nascent semiconductor industry, Don had helped power the growth of personal computing and networking. With Sequoia’s first $3 million fund, he backed both Apple and video game pioneer Atari. That Don chose “Sequoia,” a tree that lives thousands of years, rather than naming the firm after himself surprises no one who knew him. It was his humility and commitment to empowering the next generation that has enabled our team to stand the test of time. We’ve partnered with each generation of legendary companies since then, from Cisco to Google to Instagram to Airbnb and Stripe, and beyond. From the start, we have ensured that when our founders win, so do great causes. Sequoia invests primarily on behalf of nonprofits and schools, with organizations such as the Ford Foundation and Boston Children’s Hospital forming most of our limited partner base. Working for them gives us a greater sense of responsibility and purpose.
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