The Information reported that Sequoia Capital has pulled in $9 billion in fresh capital to back the country's tech companies.
At a time when global investors are reexamining risks in China, the raise arrived.
Pensions, endowment funds, and family offices from the US, Europe, the Middle East, and Southeast Asia were some of the sources of fresh capital. A person with knowledge of the situation says that the firm received over $12 billion in a 50% oversubscribed round.
The firm will continue to invest in Chinese companies that are focused on deep tech, healthcare, and consumer tech. The capital will be allocated to four funds targeting businesses across all stages, which are those deemed market leaders in an industry.
Over 900 companies in China have been funded by the investment powerhouse since it was founded in 2005.
The company declined to comment.
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