Sequoia Capital’s China arm has pulled in $9 billion in fresh capital to back the country’s startups, The Information first reported.
The raise came at a time when global investors are reevaluating risks in China amid a COVID-hit economy and an ongoing regulatory crackdown on the country’s internet upstarts.
The fresh capital came from pensions, endowment funds, and family offices from the U.S., Europe, the Middle East, and Southeast Asia, Bloomberg reported.
With the new financial injection, the firm will continue to bet on Chinese startups focused on deep tech, healthcare, and consumer tech.
We have reached out to Sequoia Capital’s China for comment.
More to come…