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Sequoia Capital nears $975m final close for trio of new funds

22 Aug 2012

Influential venture capital firm Sequoia Capital is nearing completion on a $975m fundraise for three new vehicles, it is understood.

The California-based firm, which was an early backer of online giants Yahoo and Google, will tie up fundraising next month for early-stage funds targeting the US, China and Israel according to Bloomberg.

It said Sequoia was seeking $450m for the US fund, $325m for the China vehicle and $200m for Sequoia Capital Israel V, and had negotiated a 30 per cent carry for the funds.

The firm’s last fund, Sequoia Capital 2010, was a single $1.3bn vehicle targeting China growth and early-stage investments as well as US early-stage deals.

Earlier this month Sequoia helped raise $16m for online radio streaming company TuneIn and sank $4.5m into web-based Indian health service organiser Practo.

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