Sequoia’s 2012 fundraising breaks $2.5bn with latest global vehicle


Sequoia Capital has gathered $700m for its latest global growth vehicle, bringing the global venture heavyweight’s total fundraising so far this year across five separate funds to more than $2.5bn.

Sequoia Capital Global Growth Fund has received backing from 67 investors, according to a filing with the US Securities and Exchange Commission, which shows that the first sale was made in January 2012.

No target is given for the vehicle, although Sequoia gathered more than $850m for its last global expansion fund when it closed in 2005.

The fundraise continues a blistering year for the California-based firm, which closed its latest US growth fund on $950m in August.

That news came hot on the heels of reports the firm was eyeing a $975m final close for a trio of early-stage funds targeting the US, China and Israel.

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, according to Bloomberg.

The firm’s last fund, the $1.3bn Sequoia Capital 2010, is actually three separate funds, according to Forbes, comprising a $400m US early-stage fund, a China venture vehicle and a China growth equity fund.

Copyright © 2012 AltAssets