Sequoia Capital Curs Crypto Fund Over 65% This Winter
During the fundraising crunch, leading venture capital firm Sequoia Capital has reduced its crypto fund by more than 65 percent, to around $200 million. According to the Wall Street Journal, Sequoia Capital has reduced the size of its two biggest venture funds, including the crypto fund.
In recent months, several cryptocurrency exchanges and platforms have declared bankruptcy due to increasing rules. According to reports, Sequoia is increasingly looking to invest in younger firms.
In the midst of a broad startup downturn, Sequoia Capital is shrinking its venture funds, focusing on new company development and complementing investments from seed, venture, growth, and expansion funds. The reduction in fund size intends to reduce the amount of pledged money required from investors.
(With inputs from Shikha Singh)
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